I am single do I qualify for earned income credit

What is the cutoff amount you can earn for the year to get this credit?

Answer

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Earned Income and adjusted gross income (AGI) must each be less than:

$45,060 ($50,270 married filing jointly) with three or more qualifying children

$41,952 ($47,162 married filing jointly) with two qualifying children

$36,920 ($42,130 married filing jointly) with one qualifying child

$13,980 ($19,190 married filing jointly) with no qualifying children

If you have no qualifying children then you must be between 25 and 65 years old to qualify.

 

Tax Year 2012 maximum credit:

$5,891 with three or more qualifying children

$5,236 with two qualifying children

$3,169 with one qualifying child

$475 with no qualifying children

 

Investment income must be $3,200 or less for the year.

 

For more information on whether a child qualifies you for  EITC, see Publication 596, Chapter 2, Rules If You Have a Qualifying Child.

 

The Tax Relief and Job Creation Act signed into law December of 2010 provides a temporary increase in EITC and expands the credit for workers with three or more qualifying children. These changes are temporary and apply to 2009, 2010, 2011 and 2012 tax years



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