Can I claim EIC with mostly unemployment income for 2024?
Been working and claiming my kids for years but 2024 is different. Was on unemployment most of the year except for a small Dec paycheck. Had taxes taken out of unemployment. Wondering if I can still get the Earned Income Credit or if unemployment income disqualifies me?
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Joshua Hellan
Unemployment compensation doesn't count as earned income for the EIC. You need actual wages, salary, or self-employment income. The December paycheck might help, but it needs to meet the minimum earned income threshold. For 2024, you'll need at least $3,000 in earned income to qualify for EIC with qualifying children.
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Olivia Kay
•ugh that sucks. do you know what the min amount is to get anything back with 2 kids?
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Joshua Hellan
•With 2 kids in 2024, you could get max EIC of $6,604 but you need earned income between $16,510 and $46,560 if single, or $53,120 if married filing jointly.
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Jibriel Kohn
Hey, I'd recommend checking out taxr.ai - its an AI tool that can analyze your transcript and tell you exactly what credits you qualify for and how much you might get back. Only costs a buck and saved me hours of research. https://taxr.ai
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Edison Estevez
•does it actually work? seems too good to be true tbh 🤔
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Jibriel Kohn
•Yeah its legit! Just used it last week. You upload your transcript and it breaks everything down in plain english. Even tells you if youre missing any documents or what steps to take next
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Edison Estevez
•just tried it and wow! wish id known about this sooner, would have saved me so much headache with my last return 💯
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Emily Nguyen-Smith
in the same boat rn. unemployment really screwed up my taxes this year ðŸ˜
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James Johnson
pro tip: look into other credits you might qualify for like the Child Tax Credit - that one doesnt require earned income!
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Olivia Kay
•ty! will def check that out
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Sophia Rodriguez
The system is rigged against us fr fr... why tf does unemployment not count as earned income when we literally paid taxes on it 🤡
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Mia Green
•ikr! make it make sense 🤮
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Emma Bianchi
Check if your state has any special provisions for unemployment recipients. Some states have additional credits you might qualify for!
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