Sunday, October 11, 2009

What is the maximum amount of income I can earn to get the earned income tax credit?

I have one child.

What is the maximum amount of income I can earn to get the earned income tax credit?
These are the figure for 2006. For 2007 it should be slightly more:


* Earned income and adjusted gross income (AGI) must each be less than $32,001 ($34,001 married filing jointly) with one qualifying child;


* Maximum credit: $2,747 with one qualifying child;


* Investment income must be $2,800 or less for the year.
Reply:I believe it is $30,000
Reply:Around $34,000 on a joint return, otherwise around $32,000. If you are close to hitting the limit, your EIC will be very small.
Reply:If you mean you want to get the maximum EIC, your income should be about 15,000-17,000. See pages 55-56 of the 2006 1040 Instructions.


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