For the 2018 tax year, Sally, who is single, reported the following items of income: $\begin{array}{llcc}
\text { Interest income } &\$600 \
\text {Wages } &\$4,100\
\text { Earnings from self-employment } &\$3,000\
\end{array}$
She maintains a household for herself and her 1-year-old son who qualifies as her dependent.What is the earned income credit available to her for 2018, using the tables?

Question

For the 2018 tax year, Sally, who is single, reported the following items of income: $\begin{array}{llcc}
  \text { Interest income } &\$600  \
 \text {Wages  } &\$4,100\
 \text { Earnings from self-employment } &\$3,000\
\end{array}$
 She maintains a household for herself and her 1-year-old son who qualifies as her dependent.What is the earned income credit available to her for 2018, using the tables?

Quizplus · Accepted Answer

For the 2018 tax year, Sally qualifies for the Earned Income Credit (EIC) as she has a qualifying child and her income falls within the eligible range. Using the IRS EIC tables for 2018, with one qualifying child and an earned income of $7,100 ($4,100 wages + $3,000 self-employment earnings), the credit amount is $2,423.

For the 2018 Tax Year, Sally, Who Is Single, Reported