Was always eligible for EIC but had investment income this year of $4,000. It appears that if you have over $2,800 in investment income you are not eligible for EIC period. Even with the $4,000 the income amount is well in the EIC range. Any exceptions out there to help? Thanks
"SMF" wrote
Sorry, but they have to draw the line somewhere.
Maybe next year you won't have as much in investment income.
-- Paul Thomas, CPA snipped-for-privacy@bellsouth.net
That's true. No way around it. Do make sure that you've acurately calculated investment income.
-- Phil Marti Clarksburg, MD
No.
Sorry.
-Crystal
Nope
Speaking of which, Paul, I had an interesting one today.
Fellow still works, but turned 62 last year. Great!
4000 over 62 Georgia exclusion, right?Wrong. He also had a rental property with a 5000 loss which negated the 4000 deemed retirement income, thus no retirement income exclusion on the GA 500. Is this a great state, or what?
ChEAr$, Harlan
Learn to make bad investments. That will solve your problem.
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