Enter information for Schedule EIC: Earned Income Credit
Enter general information and specific details to complete federal Schedule EIC, including income types, elections, and taxpayer eligibility criteria.
- In the Organizer, selectCredits,Earned Income Credit, thenGeneral Information.
- Select the ownership type.
- Select an EIC computation option.
- Select an option for printing or suppressing print of Schedule EIC.
- Enter the amount for the following:
- Amount received for work while an inmate in a penal institution
- Taxable scholarship or grant not on W-2
- Advance EIC payments (information here overrides information stated on W-2)
- Investment income (information overrides the amount calculated on Worksheet 1 for Schedule EIC)
- Income from rental of personal property deduction shown on Form 1040
- Expenses from rental of personal property shown on Form 1040
- Alaska Permanent Fund dividends received by the child (for investment income calculation purposes)
- Amount of combat pay to be included for earned income Worksheet B line 7 credit (information override).
- Indicate if the taxpayer and/or spouse elects to include nontaxable combat pay reported on the W-2, box 14.
- Indicate if the taxpayer or spouse doesn’t have a valid Social Security number for EIC purposes.
- Indicate if the taxpayer was the qualifying child of another person for the tax year.
- Indicate if the taxpayer didn’t live in the U.S. for more than half of the tax year.
- Indicate if Earned Income Credit was previously disallowed and Form 8862 is required.
- Indicate if the taxpayer or spouse is not a specified student.
- For the prior year earned income election:
- Indicate if the taxpayer elects to use prior year earned income to calculate the credit.
- Enter the amount of prior year income.
- Enter the amount of prior year nontaxable combat pay, if necessary.
