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Earned Income Tax Credit Calculator

Calculators Tax Tools
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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.

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 2023, the maximum credit is $7,430. Your final credit amount is determined by your filing status, income, and the number of qualifying children you claim as a taxpayer on your 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

Frequently asked questions

Can I qualify with no children?

Yes! This credit is now available to working adults aged 24 or older, regardless of whether they have children.

In addition to the usual income requirements, you generally must also meet the following criteria:

  1. Be between the ages of 25 and 65 at the end of the year
  2. Have lived in the United States for more than half the year
  3. Not be the qualifying child of another person

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

You must meet the following age requirements depending on your situation:

  • You must be between the ages of 25 and 65 at the end of the year if you not have a qualifying child
  • You must be at least 24 if you were a student for at least five months of the year
  • 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 EITC income limits for 2023?

For tax year 2023, your earned income and adjusted gross income (AGI) must both fall within the following thresholds:

Number of Children Living with You Maximum Adjusted Gross Income and Earned Income
0 $17,640 ($24,210 married filing jointly)
1 $46,560 ($53,120 married filing jointly)
2 $52,918 ($59,478 married filing jointly)
3 or more $56,838 ($63,698 married filing jointly)

Investment income limit

For 2023, you can qualify for the Earned Income Credit if your income from capital gains and any other investment profits does not exceed $11,000.

Maximum credit amounts

The maximum amount of credit for tax year 2023 is:

Number of children Maximum credit amount (2023)
0 $600
1 $3,995
2 $6,604
3 or more $7,430

We’re here to help

As always, TaxAct® is here to help simplify your tax filing experience. When you securely e-file with us, not only can you navigate your federal and state returns at your own pace, but you can also maximize your benefits, including claiming the Earned Income Credit you qualify for. Our step-by-step process provides helpful tips tailored to your unique tax situation.  

Get started for free today! And discover our income tax calculator tool to help you accurately calculate your return.

All TaxAct offers, products and services are subject to applicable terms and conditions.

File your taxes with confidence.

Your max tax refund is guaranteed.

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