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