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January 29, 2020
Question

If I made $47,225 and have 2 kids do I qualify for earned income credit

  • January 29, 2020
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1 reply

January 29, 2020

It depends on your filing status and whether or not you meet the other qualifications for claiming the earned income credit. Please view the following income limits to determine if you qualify for the credit:

  • Single, Head of Household, or Married Filing separately: Your income must not exceed $46,703 when claiming two children. (you don't qualify)
  • Married Filing Jointly: Your income must not exceed $52,493 when claiming two children. 

If you meet the income requirement, then you must also meet the other requirements below:

  • Have earned incomeand
  • 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 $3,600; 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.
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