EIC

[ldesc]

An IRA contributions puts the client into earnings eligible for the earned income credit.  In this scenario, is taking the earned income credit allowable?

[Terry53029 · Accepted solution]

1) The greater of AGI or earned income must be less than:

• $15,570 ($21,370 for MFJ) with no qualifying children,

• $41,094 ($46,884 for MFJ) with one qualifying child,

• $46,703 ($52,493 for MFJ) with two qualifying children, or

• $50,162 ($55,952 for MFJ) with three or more qualifying children.

Note it says Greater AGI or earned income

[ldesc]

Thank you for the clarification. Much appreciated!