sbring
Level 2
07-03-2023
05:38 PM
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I have a client that rents out farm land with net rental over $12,000. Does this exclude him from earned income credit on his earned income?
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TaxGuyBill
Level 15
07-04-2023
05:08 PM
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I believe it does because "rents" is part of the definition of "investment income" for the Earned Income Credit.
Out of curiosity, is your software allowing it? I know there was a previous error in one of Intuit's software (I think it was ProSeries) that was allowing the Earned Income Credit for non-passive rental income.
sbring
Level 2
4 weeks ago
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Using Proseries Professional
