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pclancy97
New Member

Why would we not qualify for the earned income credit?

 
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3 Replies

Why would we not qualify for the earned income credit?

No one can see your tax return so we do not know.   You have provided no information.

**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.**

Why would we not qualify for the earned income credit?

Your investment income may be too high.

LenaH
Employee Tax Expert

Why would we not qualify for the earned income credit?

To qualify for and claim the Earned Income Credit you must:

  • Have earned incomeand
  • Have been a U.S. citizen or resident alien for the entire tax year; and
  • Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and
  • Not have investment income exceeding $10,000; and
  • Not be filing a Form 2555 or 2555-EZ; and
  • File a return with the Single, Married Filing Jointly, Head of Household, or Qualifying Widower filing status, even if you're not required to file a return.

In addition, both your earned income and Adjusted Gross Income (AGI) may not exceed:

  • $21,430 if you're not claiming a qualifying child ($27,380 if filing jointly);
  • $42,158 if you're claiming 1 qualifying child ($48,108 if filing jointly);
  • $47,915 if you're claiming 2 qualifying children ($53,865 if filing jointly);
  • $51,464 if you're claiming 3+ qualifying children ($57,414 if filing jointly).

One more thing—if you're not claiming a qualifying child:

  • You (and your jointly filing spouse) cannot be claimed as a qualifying child or dependent on anyone else's return, and
  • You must be at least age 19 (for full-time college students who are not foster youth or homeless youth, the minimum age is 24) as of December 31, 2021

@pclancy97

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