On the Federal Carryover Worksheet Line 28 - Amount overpaid less earned income credit - there is an amount. What does that mean and where did it come from?
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It is your refund minus any Earned Income Credit and it came from your 2020 tax return.
If you used the transfer feature, this will be the amount overpaid less any Earned Income Credit (EIC) from your 2020 tax return.
In other words, it is line 34 from your 2020 1040 minus the amount on line 27.
Thank you. That's exactly right. What does it mean since I have never qualified for EIC? Is it just tracking this in case I might qualify?
It is tracking how much is true refund, line 34. EIC is a refundable credit so you may have owed taxes without the EIC but are getting a refund due to the EIC.
I'm not qualified for EIC, so this line 28 should be the same as 1040 line 34? But in my case they are not the same. Did I miss something else?
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