Earned Income Tax Credit 2024 - Step-by-Step Calculation

The Earned Income Credit (EIC) is a tax credit available to U.S. taxpayers with earned income under certain thresholds. The credit is increased for those who have qualifying children as well.
In this example, we look at a taxpayer with earned income and investment income. The EIC worksheet requires the taxpayer to calculate an EIC amount using their earned income and then on their total AGI. The EIC amount reported on Line 27 is the lesser of the two values.
For videos on how to calculate the child tax credit:
CTC for 2024: • Child Tax Credit 2024 ...
Support Test for CTC: • Child Tax Credit - Wha...
CTC impact on welfare & unemployment benefits: • Child Tax Credit - Imp...
IRS CP79A Notice for CTC: • Child Tax Credit Denie...
IRS Form 8862 for Disallowed Credits: • IRS Form 8862 - Disall...
For a full playlist of earned income credit (EIC) videos:
• Playlist
For a larger database of tutorials, please visit our website and search for your question:
knottlearning.com/
DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials.
#EarnedIncomeCredit #EITC #EIC

[@jeimyrojas7235]

T hanks for the tutorial, excellent explanation 👏👏

[@SurajSharma-ol8vm]

Nicely Explained.. Thanks 👍

[@JasonDKnott]

Glad it was helfpul!

[@user-hf5el4rj2y]

Can you do step by step tutorial on filing

[@Jojo-vo1hq]

Why can't we claim more than 3 children