Free earned income credit (eic) calculator
Enter your earned income, filing status, and number of qualifying children — this EIC calculator estimates your 2024 Earned Income Credit and checks the investment-income limit, updated live, as you type.
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Estimated only. Actual withholding depends on your W-4 elections, filing status, and local laws. Consult your payroll provider for exact figures.
Results are estimates. Consult a professional.
How the earned income credit (EIC) calculator works
The Earned Income Credit (EIC or EITC) is a refundable federal tax credit for low-to-moderate income workers and families. It is refundable — meaning if the credit exceeds your tax liability, the IRS pays you the difference. The credit amount phases in as earned income rises, reaches a maximum plateau, then phases out as income increases above certain thresholds. Both earned income (wages, tips, self-employment) and adjusted gross income (AGI) must stay below the applicable limit.
Worked example: single parent, one qualifying child, $28,000 earned income
Rosa files as a single head of household with one qualifying child. Her W-2 wages total $28,000 and her investment income is $0. Her AGI also equals $28,000. She wants to know her 2024 EIC amount.
2024 EIC maximum credit and income limits by qualifying children
The table below shows the 2024 EIC parameters for each qualifying children category. Phase-out complete income is the maximum AGI (or earned income, whichever is lower) at which the credit reaches $0. MFJ filers have higher income thresholds than single / head of household filers. Investment income above $11,600 disqualifies the credit entirely regardless of earned income.
| Children | Max EIC | Phase-Out Start (Single) | Phase-Out Start (MFJ) | Max AGI (Single) | Max AGI (MFJ) |
|---|---|---|---|---|---|
| 0 | $632 | $10,330 | $17,250 | $18,591 | $25,511 |
| 1 | $4,213 | $23,511 | $30,431 | $49,084 | $56,004 |
| 2 | $6,960 | $23,511 | $30,431 | $55,768 | $62,688 |
| 3+ | $7,830 | $23,511 | $30,431 | $59,899 | $66,819 |
Source: IRS Rev. Proc. 2023-34; IRS Pub 596. 2024 tax year. Investment income limit: $11,600.
Tips for claiming the earned income credit
The EIC is one of the largest refundable credits available to working Americans, yet millions of eligible taxpayers miss it each year due to confusion about qualifying rules. These tips help you claim accurately and maximize the benefit.
- Both earned income and AGI must be below the limit — The IRS applies the lower of earned income or AGI when calculating the phase-out. If you have large non-earned income sources (alimony, capital gains), your AGI could disqualify you even if wages are modest. Investment income above $11,600 triggers an automatic disqualification.
- Self-employment income counts as earned income — Net profit from Schedule C, Schedule F (farming), and SE income reported on a K-1 all qualify as earned income for EIC purposes. Use your net SE profit, not gross revenue. SE losses in one business cannot reduce earned income below zero for EIC calculations.
- Qualifying child rules are specific — A qualifying child must meet age (under 19, or under 24 if a full-time student, or any age if permanently disabled), relationship, residency (lived with you more than half the year), and joint return tests. A child can be a qualifying child for only one taxpayer.
- File even if you owe no tax — Because the EIC is refundable, you must file a return to claim it even if your income is below the filing threshold. IRS Free File is available at no cost to taxpayers with AGI below $79,000.
- Use the IRS EITC Assistant to verify eligibility — The IRS provides a free online tool (irs.gov/credits-deductions/individuals/earned-income-tax-credit) that walks through eligibility questions and estimates your credit, helping you avoid errors that could trigger a two-year EIC ban.
Accuracy and limitations
This calculator uses 2024 EIC parameters from IRS Rev. Proc. 2023-34 and IRS Pub 596. It estimates the credit based on earned income, filing status, and number of qualifying children. It does not verify qualifying child eligibility, which involves age, relationship, residency, and joint-return tests. It also does not account for the interaction between EIC and other credits such as the Child Tax Credit or Child and Dependent Care Credit.
Taxpayers who claim the EIC incorrectly may face repayment, penalties, and a two-year ban on claiming the credit (ten years if fraud is determined). If you are uncertain about your eligibility — particularly for self-employment income, mixed filing situations, or complex family arrangements — consult a tax professional or use the free IRS EITC Assistant before filing.
Earned income credit terms defined
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