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lehonore
New Member

Why is my EIC only 448 w 2 qualifying and under 45,800 as head of household?

 
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Why is my EIC only 448 w 2 qualifying and under 45,800 as head of household?

Your income is too high for more and you are right at the phase out.  

You can get to the Earned Credit Interview by entering "eic" (without the quotes) in the Tools -Search Topics box.

Earned Income Credit (EIC) is paid on a bell curve - starts low for a low income, increases to the maximum as income increases, then phases out as income increases still further until it is gone at the maximum income. You only get the maximum EIC if your income is about midway between no income and the maximum income.

EIC is calculated both on the amount of earned income and yiur AGI and you get the lessor of the two.

EIC will be found on line 17a on the 1040 form.

2018 Earned Income and Adjusted Gross Income (AGI) must each be less than:
$49,194 ($54,884 married filing jointly) with three or more qualifying children
$45,802 ($51,492 married filing jointly) with two qualifying children
$40,320 ($46,010 married filing jointly) with one qualifying children
$15,270 ($20,950 married filing jointly) with no qualifying children

Tax Year 2018 maximum credit:
$6,431 with three or more qualifying children
$5,716 with two qualifying children
$3,461 with one qualifying child
$519 with no qualifying children

Investment income must be $3,500 or less for the year.
EIC Table page 53
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf


You must be at least 25 if you do not have a qualifying child, and under 65 years of age at the end of 2018.

See IRS Pub 596 for complete information:
http://www.irs.gov/publications/p596/index.html

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

View solution in original post

2 Replies

Why is my EIC only 448 w 2 qualifying and under 45,800 as head of household?

Your income is too high for more and you are right at the phase out.  

You can get to the Earned Credit Interview by entering "eic" (without the quotes) in the Tools -Search Topics box.

Earned Income Credit (EIC) is paid on a bell curve - starts low for a low income, increases to the maximum as income increases, then phases out as income increases still further until it is gone at the maximum income. You only get the maximum EIC if your income is about midway between no income and the maximum income.

EIC is calculated both on the amount of earned income and yiur AGI and you get the lessor of the two.

EIC will be found on line 17a on the 1040 form.

2018 Earned Income and Adjusted Gross Income (AGI) must each be less than:
$49,194 ($54,884 married filing jointly) with three or more qualifying children
$45,802 ($51,492 married filing jointly) with two qualifying children
$40,320 ($46,010 married filing jointly) with one qualifying children
$15,270 ($20,950 married filing jointly) with no qualifying children

Tax Year 2018 maximum credit:
$6,431 with three or more qualifying children
$5,716 with two qualifying children
$3,461 with one qualifying child
$519 with no qualifying children

Investment income must be $3,500 or less for the year.
EIC Table page 53
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf


You must be at least 25 if you do not have a qualifying child, and under 65 years of age at the end of 2018.

See IRS Pub 596 for complete information:
http://www.irs.gov/publications/p596/index.html

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Hal_Al
Level 15

Why is my EIC only 448 w 2 qualifying and under 45,800 as head of household?

 See the curve (graph) at:
<a rel="nofollow" target="_blank" href="http://www.taxpolicycenter.org/briefing-book/key-elements/family/eitc.cfm">http://www.taxpolicycente...>

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