I would like to know What is EIC?

[carito019]

I was doing my taxes as single and turbo tax is suggesting that I qualified for EIC. What does this mean? Is good or bad? What is investment income? I only have a full-time job and no kids.

[Coleen3]

Earned Income Credit is a credit given to lower income individuals.

You qualify if:

• You have income from earnings (for example, from a job, your own business, union strike benefits, certain long-term disability benefits).
• You did not receive more than $3,400 in interest or dividends, or income from rentals, royalties or stock and other asset sales during 2017.
• You are single or, if married, do not use the Married Filing Separate status.
• You, your spouse and children, if applicable, all have Social Security numbers.
• You and your spouse are not being considered as a child on someone else's tax return for purposes of the earned income credit.
• You are not excluding any income you earned in a foreign country on your return.
• You are a citizen or resident of the United States.
• You have dependents.
• You do not have a qualifying child, but you and your spouse are between 25 and 65, not the dependents of anyone else, and you have lived in the United States for more than half of the year.

[PaulaM]

Earned Income Credit is a good thing if you qualify.

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