Taxes

Earned Income Tax Credit Calculator

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 2022, the maximum credit is $6,935. Your final credit 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! 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. You must have lived in the United States for more than six months out of the tax year.
  2. You cannot be claimed as a dependent on someone else’s tax return.

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

There is not a maximum age limit to claim this tax credit as of 2021, 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 EITC income limits for 2022?

For tax year 2022, 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 $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

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:

  • $6,935 with three or more qualifying children
  • $6,164 with two qualifying children
  • $3,733 with one qualifying child
  • $560 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

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!

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

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