Question

Do you want to use last year's earned income? I’m stuck on this section, I’m not understanding

Forum|Forum|5 years ago
January 29, 2021
1 reply
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What exactly does this mean?

TurboTax Live Basic Online

Employee

The special lookback rule will allow lower income individuals to use their earned income from 2019 to determine their Earned Income Tax Credit and the refundable portion of the Child Tax Credit in 2020, since their lower 2020 income could reduce the amount they are eligible for.

You can look back and use your 2019 income for the EIC credit instead of 2020. See this post https://ttlc.intuit.com/community/taxes/discussion/i-m-at-a-section-asking-me-do-you-want-to-use-last-years-earned-income-what-do-i-do-here-and-why-am/00/1829847