in Education
2002310
You'll need to sign in or create an account to connect with an expert.
AGI is just one of the factors that do into calculating whether you are entitled to the earned income credit and how much your credit will be. Here is an article that goes through all of the qualifications to receive EIC.
Thanks for the info,
The turbo tax system tells us that we are not entitled to receive EIC, but we are with 3 qualifying children with AGI less than the limit. How can we resolve this issue? Thanks
In addition to EIC,
Turbotax said, " It turns out you don't qualify for this credit." because my earned income is above the limit of EIC.
From IRS, AGI should be considered instead of 'earned income'. My current AGI is less than the limit of EIC.
Can you please explain why system uses my 'earned income' instead of 'AGI'...?
Thanks
If you believe you qualify but are not getting the credit, start by verifying your AGI and your dependents' statuses. If one of your 3 dependents is not qualifying, then you may be looking in the wrong spot on the EIC chart. If you are using the AGI chart for 3 EIC dependents, but only 2 are qualifying, you may not qualify for the credit. If TurboTax is telling you that you don't qualify, the reason is usually that you are counting dependents that don't qualify...2 questions
To qualify, the child must be:
Other items to verify for EIC:
When figuring the Earned Income Credit, both AGI and earned income are used. For 2020, you are allowed to use your 2019 earned income if it was more in 2019. However, even if you use the lookback provision, the credit is still calculated using 2020 AGI. See this EIC worksheet; notice that both AGI and earned income are used.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
RandlePink
Level 2
in Education
RandlePink
Level 2
nstuhr
Returning Member
yo76
New Member
Slowhand
New Member