What is the Earned Income Tax Credit (EITC)? – TurboTax Support Video


The Earned Income Tax Credit is one type of
credit that can increase your refund or reduce the amount of taxes you owe. It’s for working people with low to moderate
income that meet certain qualifications. To get the Earned Income Tax Credit, both
your earned income and adjusted gross income can’t exceed a certain amount, depending
on the number of children you claim and your filing status. You must also, have earned income, be a U.S.
citizen or resident alien, have a valid Social Security number for everyone on your return,
have less than a certain amount of investment income, not file your return as married filing
separately, and not file a Form 2555 or 2555-EZ. If you aren’t claiming any children, there
are a few more rules. You or your jointly filing spouse must be
between 25 and 65 years old, and you can’t be claimed as a child or dependent on anyone
else’s return. It’s a lot of stipulations for one credit,
but luckily TurboTax will do all the calculations for you. After you tell us about yourself and enter
your income, we’ll determine if you qualify and how much credit you’ll receive. For more answers to your questions, visit
turbotax.com/support

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