TaxAct® will automatically calculate the earned income credit based on the information entered in your return. If you qualify for the credit, the amount will be included as a Payment on your Federal Tax Summary. You must enter your income and dependent information before the credit can calculate.
To review your earned income credit information:
The Earned Income Tax Credit (EITC or EIC) is a refundable income tax credit for working individuals and families with modest incomes. As a refundable credit, the EIC becomes a tax refund when the amount of the credit exceeds the amount of tax owed.
For 2018, the credit is worth a maximum of:
$6,431 with three or more qualifying children
$5,716 with two qualifying children
$3,461 with one qualifying child
$519 with no qualifying children
In order to qualify for the credit, your adjusted gross income (AGI) must be less than:
$49,194 ($54,884 married filing jointly) with three or more qualifying children
$45,802 ($51,492 married filing jointly) with two qualifying children
$40,320($46,010 married filing jointly) with one qualifying child
$15,270 ($20,950 married filing jointly) with no qualifying children
Your total investment income must also be $3,500 or less for the year.
See the IRS website EITC Central for more information.