My earning income for 2021 is $40310. I have one dependent, 22 years old and full time college student. Do I qualify for the EITC?

Forum|Forum|4 years ago
February 6, 2022
2 replies
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Investment income is under $900.

TurboTax Deluxe Online

MinhT1

Yes, you will eligible for the Earned Income credit with an AGI of $40,310..

For 2021, you are only disqualified from the EIC if your investment income exceeds $10,000.

With one qualifying dependent, the Maximum AGI is $42,158 id you file as Single. Head of Household or Married filing Separately, and $$48,108 if you file Married filing Jointly.

Please see this IRS document for more information.

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xmasbaby0

Employee

Your EIC will show up on line 27a of your Form 1040. The software will add it automatically when you enter your dependent and your earned income.

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Hal_Al

Employee

Yes, but it won't be much.

The earned income credit is first calculated (actually looked up in a table) on your earned income then it is calculated on your total income (AGI). You get the lesser of the two calculated EIC numbers. See the 2021 EIC table at: https://www.irs.gov/pub/irs-pdf/i1040tt.pdf

Scroll down past the tax tables to get to the EIC table.