Re: Can I claim 2019 wages to get the most out of dependent credit on my 2020 taxes or will I be penalized?

Can I claim 2019 wages to get the most out of dependent credit on my 2020 taxes or will I be penalized?

posted

You only enter 2020 income on your 2020 tax return. But there is a "lookback" in the earned income credit part of the 2020 software that will let you choose whether to use your 2019 AGI or your 2020 AGI to calculate the amount of earned income credit or child tax credit you receive for 2020.

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