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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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look back rule
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c2400615
Level 1
02-12-2021
02:04 PM
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The "lookback" rule allows taxpayers to use either their 2019 or 2020 income, whichever is most beneficial, in order to get the most out of the Earned Income Tax Credit and the Child Tax Credit.
What form is this lookback rule where can I apply it for 2020 in series?
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dkh
Level 15
02-12-2021
03:56 PM
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Go to the Earned Income Credit Worksheet scroll down to line 5 there is a Smart Worksheet to select Yes or No to use 2019.
