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Earned Income Tax Credit Calculator

Calculators Family Taxes

The Earned Income Tax Credit (EITC) is a refundable tax credit designed in part to reduce the tax burden on low-income individuals and families both with and without children.

a cheerful couple and two children spending quality time together

As a fully refundable credit, if the amount of tax you owe is less than the credit amount you qualify for, you will be able to receive the difference as a tax refund.

For tax year 2021, the maximum credit is $6,728 ($6,935 in 2022). This amount is determined by your filing status, income, and the number of qualifying children a taxpayer claims on their tax return.

Earned income includes all taxable income and generally includes wages, tips, and net earnings from self-employment.

Earned Income Tax Credit calculator instructions

Step 1: Select your tax year
Step 2: Select your tax filing status
Step 3: Enter your income
Step 4: Select your qualifying children
Step 5: Select your age at the end of the last tax year

Note: For tax year 2021, you can elect to use your 2019 earned income to calculate your Earned Income Credit, but only if your 2019 income was higher than your 2021 income.

Frequently asked questions

Can I qualify with no children?

Yes! Beginning in tax year 2021, this credit is available to working adults aged 19 or older, regardless of whether they have children.

Are there age limits to qualify for the Earned Income Tax Credit?

There is not a maximum age limit to claim this tax credit, but filers must meet the following minimum age requirements depending on your situation:

  • You must be at least 24 if you were a student for at least five months in 2021
  • You must be at least 18 if you were in foster care any time after turning 14 or if you are a qualified homeless youth
  • You must be at least 19 in all other circumstances

What are the income limits for 2021?

For tax year 2021, your earned income and adjusted gross income (AGI) must both fall within the following thresholds:

Number of Children

0

1

2

3+

Max Earned Income Credit

$1,502

$3,618

$5,980

$6,728

Max Income (single or head of household)

$21,430

$42,158

$47,915

$51,464

Max Income (married filing jointly)

$27,380

$48,108

$53,865

$57,414

Investment income limit

For 2021, the IRS increased its limit for investment income to further increase eligibility for the credit — you can now qualify for the Earned Income Credit if your income from capital gains and any other investment profits does not exceed $10,000.

Maximum credit amounts

The maximum amount of credit for tax year 2021 is:

  • $6,728 with three or more qualifying children
  • $5,980 with two qualifying children
  • $3,618 with one qualifying child
  • $1,502 with no qualifying children

For tax year 2022, your earned income and AGI must each be less than:

Number of Children

0

1

2

3+

Max Earned Income Credit

$560

$3,733

$6,164

$6,935

Max Income (single or head of household)

$16,480

$43,492

$49,399

$53,057

Max Income (married filing jointly)

$22,610

$49,622

$55,529

$59,187

Maximum credit amounts

The maximum amount of credit for tax year 2022 is:

  • $6,935 with three or more qualifying children
  • $6,164 with two qualifying children
  • $3,733 with one qualifying child
  • $560 with no qualifying children

We’re here to help

As always, TaxAct® is here to help taxpayers enjoy an easier, more confident filing experience. When you securely e-file with us, we can help you claim the max Earned Income Credit you qualify to receive. Our step-by-step process guides you through your federal and state returns at a pace that’s right for you and gives you helpful tips tailored to your unique tax situation. Get started for free today!

 

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