How Much Do You Get for Earned Income Credit?
The amount of your Earned Income Credit depends on your income and family profile. Learn how these factors are used to calculate your specific benefit.
The Earned Income Credit (EIC) is a refundable federal tax credit for working individuals and families with low-to-moderate incomes. It is intended to lower the amount of tax owed and may result in a refund even if no income tax is owed. The credit amount is determined by income, tax filing status, and the number of qualifying children.
Core Eligibility Requirements
To claim the EIC, the taxpayer, their spouse if filing jointly, and any qualifying child must each have a Social Security Number (SSN) valid for employment. The SSN must be issued on or before the tax return’s due date, including extensions. An Individual Taxpayer Identification Number (ITIN) cannot be used in place of an SSN for this credit.
Your filing status must be Married Filing Jointly, Head of Household, Qualifying Surviving Spouse, or Single. Filing as Married Filing Separately will disqualify a taxpayer from claiming the credit.
The credit requires you to have earned income, which includes wages, salaries, tips, other taxable employee pay, and net earnings from self-employment. Income that is not considered “earned” includes interest, dividends, Social Security benefits, and unemployment benefits.
A limit on investment income also applies. For the 2024 tax year, your investment income must be $11,600 or less. This includes income from sources like stock dividends, interest, and capital gains. Exceeding this limit makes a taxpayer ineligible for the credit.
A taxpayer must be a U.S. citizen or a resident alien for the entire tax year. Your main home must have been in the United States for more than half of the year. The United States includes the 50 states and the District of Columbia.
Qualifying Child Rules
To claim the EIC with a qualifying child, the child must meet four tests.
- Relationship: The child must be your son, daughter, stepchild, eligible foster child, brother, sister, half-brother, half-sister, stepbrother, stepsister, or a descendant of any of them, such as a grandchild, niece, or nephew. An adopted child is treated as your own child.
- Age: At the end of the tax year, the child must be younger than you (or your spouse if filing jointly) and either under age 19 or a full-time student under age 24. A person of any age can be a qualifying child if they are permanently and totally disabled.
- Residency: The child must have lived with you in the United States for more than half of the tax year. Exceptions are made for temporary absences, such as for school, vacation, or medical care.
- Joint Return: The child cannot have filed a joint tax return for the year, unless it was filed only to claim a refund of taxes paid.
You can claim the EIC without a qualifying child if you are at least 25 but under 65 years old at the end of the tax year. You also cannot be claimed as a dependent or a qualifying child on anyone else’s tax return.
Calculating Your Credit Amount
The EIC amount increases with earned income up to a certain point, holds at a maximum amount, and then gradually decreases as income continues to rise. This structure is known as a phase-in and phase-out.
The credit amount is tied to the number of qualifying children and filing status. For the 2024 tax year, the maximum credit is $632 with no qualifying children, $4,213 for one child, $6,960 for two children, and $7,830 for three or more children. The phase-out of the credit is based on the greater of your earned income or your Adjusted Gross Income (AGI).
The income limits where the credit fully phases out depend on your filing status and number of children. For example, with three or more children, a single filer can earn up to $59,899 and still receive some credit, while a married couple filing jointly can earn up to $66,819. The tables below provide the specific income parameters for all situations.
2024 Earned Income Credit Parameters
| Number of Qualifying Children | Maximum Credit | Income at Start of Phase-Out (Single, Head of Household, Widow) | Income at Start of Phase-Out (Married Filing Jointly) |
| :— | :— | :— | :— |
| 0 | $632 | $12,480 | $19,400 |
| 1 | $4,213 | $21,560 | $28,480 |
| 2 | $6,960 | $21,560 | $28,480 |
| 3 or more | $7,830 | $21,560 | $28,480 |
2024 Earned Income and AGI Limits
| Number of Qualifying Children | Income Limit (Single, Head of Household, Widow) | Income Limit (Married Filing Jointly) |
| :— | :— | :— |
| 0 | $18,591 | $25,511 |
| 1 | $49,084 | $56,004 |
| 2 | $55,768 | $62,688 |
| 3 or more | $59,899 | $66,819 |
How to Claim the Earned Income Credit
To receive the EIC, you must file a federal income tax return using Form 1040 or Form 1040-SR. You cannot claim the credit if you file Form 1040-NR, U.S. Nonresident Alien Income Tax Return.
If claiming the EIC with qualifying children, you must also complete and attach Schedule EIC to your tax return. On this schedule, you will list each child’s name, Social Security Number, year of birth, and their relationship to you.
The IRS website features an EITC Assistant tool to help you determine if you qualify. Most tax preparation software will also automatically calculate the EIC and complete the necessary forms based on the information you provide.