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I've payed more then $1,500 in church tithes, can that money be counted as a deduction? I would like lower my income by $400 to qualify for the (EIC) earned income tax credit?
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I've payed more then $1,500 in church tithes, can that money be counted as a deduction? I would like lower my income by $400 to qualify for the (EIC) earned income tax credit?
First, unless you have other deductions, your total itemizeds will still be less than the Standard deduction.
Second, EIC is based on (1) AGI and (2) earned income. You then get the lower of the two. But neither of these are changed by itemized deductions, just your taxable income..
Third, EIC at the high end of the allowable income is very small.
https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf
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I've payed more then $1,500 in church tithes, can that money be counted as a deduction? I would like lower my income by $400 to qualify for the (EIC) earned income tax credit?
First, unless you have other deductions, your total itemizeds will still be less than the Standard deduction.
Second, EIC is based on (1) AGI and (2) earned income. You then get the lower of the two. But neither of these are changed by itemized deductions, just your taxable income..
Third, EIC at the high end of the allowable income is very small.
https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf
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