EITC

If you received the Earned Income Tax Credit, it would show up on Line 27a of your 1040 for 2021. Remember, with TurboTax, you will be asked questions about your situation and the software will automatically determine if you are eligible and add the credit on your return if you are. 

To qualify for and claim the Earned Income Credit you must:

• Have earned income; and
• Have been a U.S. citizen or resident alien for the entire tax year; and
• Have a valid Social Security number (not an ITIN) for yourself, your spouse (if filing jointly), and any qualifying children on your return; and
• Not have investment income exceeding $10,000; and
• Not be filing a Form 2555 or 2555-EZ; and
• File a return with the Single, Married Filing Jointly, Head of Household, or Qualifying Widower filing status, even if you're not required to file a return.

In addition, both your earned income and Adjusted Gross Income (AGI) may not exceed:

• $21,430 if you're not claiming a qualifying child ($27,380 if filing jointly);
• $42,158 if you're claiming 1 qualifying child ($48,108 if filing jointly);
• $47,915 if you're claiming 2 qualifying children ($53,865 if filing jointly);
• $51,464 if you're claiming 3+ qualifying children ($57,414 if filing jointly).

One more thing—if you're not claiming a qualifying child:

You (and your jointly filing spouse) can't be claimed as a qualifying child or dependent on anyone else's return, and

• You must be at least 18 if you are a qualified former foster youth or a qualified homeless youth, regardless of whether or not you are a specified student
• You must be at least age 19 if you aren't a specified student, qualified former foster youth, or qualified homeless youth
• You must be at least age 24 if you are a specified student, unless you are a qualified former foster youth, or qualified homeless youth

The Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020 as a stimulus measure to provide relief to those affected by the pandemic. For tax year 2020, The CAA allows taxpayers to use their 2019 earned income if it was higher than their 2020 earned income in calculating the Additional Child Tax Credit (ACTC) as well as the Earned Income Tax Credit (EITC). For 2021, you can use whichever year's earned income, 2019 or 2021, that gives you the highest credit.

If you qualified for the Earned Income Credit, based on the guidelines above, then you can follow the instructions on amending your 2021 return on the page How to amend (change or correct) a return you've already filed. The federal amended tax return, Form 1040-X, for tax year 2021 is estimated to be available in TurboTax on 03/17/2022.

Once you elect to amend your return, you can search for the Earned Income Credit Section by following the steps below:

1. Open your return.
2. Search for EIC with the magnifying glass tool at the top of the page.
3. Follow the on-screen instructions.