Earned Income and adjusted gross income (AGI) must each be less than:
• $47,955 ($53,505 married filing jointly) with three or more qualifying children
• $44,648 (50,198 married filing jointly) with two qualifying children
• $39,296($44,846 married filing jointly) with one qualifying child
• $14,880 ($20,430 married filing jointly) with no qualifying children
Tax Year 2016 maximum credit for MFJ: (This is the MAXIMUM - see EIC table for actual amount bases on your earned income).
• $6,269 with three or more qualifying children
• $5,572 with two qualifying children
• $3,373 with one qualifying child
• $506 with no qualifying children
Investment income must be $3,400 or less for the year.
EIC Table
https://www.irs.gov/publications/p596/ar02.html#d0e5366
You must be at least 25 if you do not have a qualifying child, and under 65 years of age at the end of 2015.
See IRS Pub 596 for complete information:
http://www.irs.gov/publications/p596/index.html
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
