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The TurboTax Earned Income Tax Credit (EITC) Assistance is a refundable tax credit designed to help low- to moderate-income workers and families reduce their tax liability and potentially receive a tax refund. The credit amount depends on your income, family size, and filing status. The EITC can be particularly beneficial for working parents, as it offers more significant refunds based on the number of qualifying children.
Who is eligible to claim the Earned Income Tax Credit?
Who is eligible to claim the Earned Income Tax Credit?
Income Limits: Your earned income and adjusted gross income (AGI) must fall within certain limits, which vary based on your filing status and the number of qualifying children you have.
Filing Status: You can claim the EITC if you file as single, head of household, married filing jointly, or qualifying widow(er). However, you cannot claim the EITC if you file as married filing separately.
Qualifying Children: If you have children, they must meet certain requirements (relationship, age, residency, and joint return). You can also claim the EITC without children if you meet the income criteria.
U.S. Residency: You must be a U.S. citizen or resident alien for the entire tax year.
Investment Income: Your investment income must be $3,800 or less for the year.
What are the income limits?
What are the income limits?
$56,838 ($63,398 married filing jointly) with three or more qualifying children
$52,918 ($59,478 married filing jointly) with two qualifying children
$46,560 ($53,120 married filing jointly) with one qualifying child
$17,640 ($24,210 married filing jointly) with no qualifying children
What is the amount of credit?
What is the amount of credit?
$7,430 with three or more qualifying children
$6,604 with two qualifying children
$3,995 with one qualifying child
$600 with no qualifying children
How to claim EITC on TurboTax?
How to claim EITC on TurboTax?
Log in to TurboTax and start your tax return.
Provide details of your earned income, including wages, salaries, tips, and other sources.
TurboTax will ask questions to determine if you qualify for the EITC. Answer these accurately to ensure eligibility.
TurboTax will automatically calculate the amount of EITC you’re eligible for based on your income, filing status, and number of qualifying children.
Ensure all information is correct. TurboTax will flag any potential issues for you to correct.
Once everything looks good, file your return electronically. TurboTax will include your EITC claim in your tax return.
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