What is the income limitation for EIC?

Earned Income and AGI Limits (for 2021 tax year) Earned income and adjusted gross income (AGI) must each be less than: If filing... Qualifying Children Claimed ZeroOneTwoThree or more Single, Head of Household or Widowed $21,430 $42,158 $47,915 $51,464 Married Filing Jointly $27,380 $48,101 $53,865 $57,414 Investment Income Limit Investment income must be $10,000 [...]

Payment Information

DO NOT enter withholdings from any income statements such as W2, 1099, etc. in the payments section. (This mistake would either cause your return to be rejected by the IRS or accepted and a letter later mailed to you stating you owe this money back along with penalty and interest amounts.) You must enter those withholdings in the appropriate INCOME section of the online interview (W2, 1099R, W2G, [...]

Travel Expenses for Schedule E

Expenses for Travel You can deduct ordinary and necessary auto and travel expenses related to your rental activities, including 50% of meal expenses incurred while traveling away from home. However, business meals are 100% deductible if the meals are food and beverages provided by a restaurant and paid or incurred after December 31, 2020, and before January 1, 2023. In most cases, you can [...]

Expenses for Schedule E

Enter your rental and royalty expenses for each property in the appropriate column. You can deduct all ordinary and necessary expenses, such as taxes, interest, repairs, insurance, management fees, agents' commissions, and depreciation. Do not deduct the value of your own labor or amounts paid for capital investments or capital improvements. Renting out part of your home. If you rent our only [...]

Income or Loss From Rental Real estate and Royalties

Income or Loss From Rental Real Estate and Royalties This section is to report: Income and expenses from rental real estate (including personal property leased with real estate), and Royalty income and expenses See Schedule E instructions to determine if you should report your rental real estate and royalty income on Schedule C, or form 4835 instead of Schedule E. If you own a part [...]