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SSXVegeta
New Member

Conflicting information and potentially incorrect Earned Income Credit calculation.

So Ive made it to the earned income credit tax section. Entered all my info as usual.

I got an amount that seems to be similar to most other times Ive used TurboTax.
Though this time, I also got a little excerpt (possibly from an AI) ~$200~ interest income was larger than the ~$11,000~ limit, which is why I was getting a smaller amount of credit.
This obviously contradicts itself. 200 is NOT larger than 11,000.

I went around and did some other calculations from other places.... and I received a result of ~$500~ of an EIC....
So am I being yoinked by turbo tax's calculations.... and have I been for years now????
Ill have to check this out further.

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1 Reply
AnnetteB6
Employee Tax Expert

Conflicting information and potentially incorrect Earned Income Credit calculation.

That blurb about investment income does seems to be an AI generated response.  To learn more about the investment income limits that would disqualify you from claiming the Earned Income Tax Credit, see the following TurboTax help article:

 

What are the qualifications for the Earned Income Credit (EIC or EITC)?

 

You can also use the EITC calculator from the IRS website to estimate the amount of EITC you are qualified to receive:

 

Use the EITC Assistant

 

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