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rhett8690
New Member

Would anyone know why i didn't get EIC when my AIG was only 42,720?

 
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3 Replies

Would anyone know why i didn't get EIC when my AIG was only 42,720?

We cannot see any of your other information.  We do not know how many children you claimed as dependents, etc.

 

Try the IRS EIC tool to see what it says 

 

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

 

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

**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.**
JulieS
Expert Alumni

Would anyone know why i didn't get EIC when my AIG was only 42,720?

Yes, there are several qualifications to get Earned Income Credit. The first is that you have income below the threshold for your number of qualifying children.

 

 

A qualifying child for EIC:

 

In addition to meeting the income limits:

 

  • You must have earned income
  • Your total investment income must be less than $11,000
  • You can't file Married Filing Separately
  • You must be between age 25 and 65, or have at least one qualified child
  • If your EIC has been denied or adjusted in the past, you may need to file Form 8862 with your tax return. 
  • You must have lived in the US for more than six months during the tax year

 

If you believe you are entitled to EIC after reviewing these rules, you can go over the EIC section again. You should get a message at the end of it explaining your results.

 

  1. Open your return.
  2. Select Deductions & Credits, then select Start or Edit to the right of Earned Income Credit. 
  3. Answer the questions on the next few screens according to your situation.
  4. You will get a message at the end of the section explaining your results. 
     

 

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Would anyone know why i didn't get EIC when my AIG was only 42,720?

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. See the 2023 EIC table at:

https://www.irs.gov/instructions/i1040tt#idm140702909059168 scroll way down

 

So, for example, taking a deduction (adjustment) for an IRA contribution does not make you eligible for EIC.

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