It is good to choose yes I want to use last years earned income for my child and dependent tax credit and EIC? It goes up with yes? What does it effect?

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YES ... if using last year's figures gets you a better refund then PLEASE do so. This is a one time offer to get a larger EIC and/or CTC due to the covid situation last year. If it doesn't get you a better result you can choose to not take that option.