You'll need to sign in or create an account to connect with an expert.
Two ways:
1. In the forms mode, look at the EIC worksheet. It will tell you what amount the EIC was looked up (calculated) on.
2. Get the EIC amount from line 66a of form 1040 or line 42a of 1040A. Then look that number up in the EIC table https://apps.irs.gov/app/vita/content/globalmedia/earned_income_credit_table_1040i.pdf
You are correct: scholarship is not used to calculate EIC. Just because scholarship is included on line 7 of forms 1040 & 1040A does not mean it was used for EIC.
Scholarship income cannot increase your EIC, but it can reduce it. 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.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
beny
New Member
sam992116
Level 4
organdan
Level 1
jshuep
Level 2
user17539892623
Returning Member