turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

sent2me
New Member

Why is my EIC with three children only $24

I made $500 under the max limit for EIC with three children but they only gave me $24…. Does anyone know why?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Why is my EIC with three children only $24

The more you make reduces the amount of EIC you are eligible to receive.  Since you are only $500 away from the maximum then the EIC will be very low.

Why is my EIC with three children only $24

Look at the chart page 26 ...  your AGI is between 56700 and 56750 filing single or HOH with 3 qualifying dependents.   If you look at the entire chart it is a bell curve.  

 

https://www.irs.gov/pub/irs-pdf/p596.pdf

Why is my EIC with three children only $24

Just $300 under the maximum limit to get EIC?  That is why it is such a small amount.   The EIC is calculated on a bell curve.  Use the IRS tool to see:

 

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

 

 

Or....look at the EIC table from the IRS booklet ---start scrolling on page 27 and keep going to the page with your own income and number of children.

 

https://www.irs.gov/pub/irs-pdf/p596.pdf

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question