I have a special needs brother. In the past he qualified for earned income tax credit. I am trying to figure out why no credit this year. Is a distribution from an inherited IRA considered investment income? It is not listed on the investment income smart worksheet, and the worksheet shows he is eligible for the EITC. So I cannot figure out what else would be limiting him from getting the EITC. On the 1040, Line 17, Turbo Tax printed "NO" for EITC. He has about $7,000 of earned income and interest and dividends well below the $3,500 investment income threshold.
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The tax year 2018 Earned income and adjusted gross income (AGI) must each be less than $15,270.
The IRA in not considered Investment Income.
The tax year 2018 Earned income and adjusted gross income (AGI) must each be less than $15,270.
The IRA in not considered Investment Income.
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