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How come I don't qualify for earned income credit if I made under $59,000 filing married jointly with two kids

 
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How come I don't qualify for earned income credit if I made under $59,000 filing married jointly with two kids

 Earned Income Credit—-the rules are back to the “old” rules—

Those under 25 and over 65 without children are not eligible as they were uniquely in 2021.   And you cannot use your income from any earlier tax year to get the EIC for a 2022 return.  There is no “lookback” for 2022.  EIC for 2022 will be based on the income you earned by working in 2022.

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

 

 

Look at your 2022 Form 1040 to see the child-related credits you received

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
JohnB5677
Employee Tax Expert

How come I don't qualify for earned income credit if I made under $59,000 filing married jointly with two kids

“To claim the Earned Income Tax Credit (EITC), you must have what qualifies as earned income and meet certain adjusted gross income (AGI) and credit limits for the current, previous and upcoming tax years.”  IRS - Earned Income Tax Credit

 

Use the EITC tables to look up maximum credit amounts by tax year.

 

 

If you are unsure if you can claim the EITC, use the EITC Qualification Assistant.

 

The tax credit is posted to line 27 of your 1040 tax return.

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar

Select Preview my 1040. 

  • Line 15 - Taxable Income
  • Line 24 - Total Tax.
  • Line 25 - Withholdings.
  • Line 27 - Earned Income Tax Credit
  • Line 33 - Payments including Credits.
  • Line 34 - Overpayments.
  • Line 37 - Tax owed.

 

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How come I don't qualify for earned income credit if I made under $59,000 filing married jointly with two kids

The earned income credit is first calculated (actually looked up in a table) on your earned income then it is calculated on your total income (AGI). You get the lesser of the two calculated EIC numbers.

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