Refundable vs Nonrefundable credits - Earned Income Credit

7 important questions on Refundable vs Nonrefundable credits - Earned Income Credit

What is the maximum credit for the Earned Income Credit (EITC) for 2024?

Maximum credit for 2024: $7,830.

What is the age requirement for taxpayers without a qualifying child for the EITC?

Age 25–64 at year-end (only one spouse if filing jointly).

What is the AGI limit for taxpayers without a qualifying child for 2024?

AGI ≤ $18,591 ($25,511 if filing jointly) for 2024.
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What must taxpayers have to qualify for the EIC?

  • Have earned income from work or self-employment (W-2/1099).

What is the joint return test for a qualifying child?

Child cannot file a joint return except to claim a refund.

What citizenship or residency status must taxpayers have for EIC eligibility?

  • Be a U.S. citizen or resident alien for the entire year (ITINs do not qualify).

What form must not be filed to be eligible for the EIC?

  • Do not file Form 2555 (Foreign Earned Income Exclusion).

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