Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- Does farm land rental disqualify for earned income credit?
Does farm land rental disqualify for earned income credit?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
sbring
Level 2
07-03-2023
05:38 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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?
Labels
1 Comment 1
TaxGuyBill
Level 15
07-04-2023
05:08 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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.
