If the business loss is 100,000 from my llc and separate w-2 is 15,000 Day Job. will the net loss make me unable to get the EIC? have 1 children
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No. Your business loss with your W2 income gives you a negative Adjusted Gross Income. This will not allow you to get the Earned Income Credit.
If you overide a worksheet, there may be some complications. In fact, overriding may invalidate our 100% Accurate Calculations Guarantee. Additionally, returns that contain overrides cannot be e-filed.
One way to find out is to use the IRS Earned Income Tax Credit (EITC) Assistant. It will ask all of the appropriate questions.
No. Your business loss with your W2 income gives you a negative Adjusted Gross Income. This will not allow you to get the Earned Income Credit.
If you overide a worksheet, there may be some complications. In fact, overriding may invalidate our 100% Accurate Calculations Guarantee. Additionally, returns that contain overrides cannot be e-filed.
One way to find out is to use the IRS Earned Income Tax Credit (EITC) Assistant. It will ask all of the appropriate questions.
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