Page 10

- 10 -

Item One Two Three or More None Earned Income $9,720 $13,650 $13,650 $6,480 Amount Maximum Amount of Credit $3,305 $5,460 $6,143 $496 Threshold Phaseout $17,830 $17,830 $17,830 $8,110 Amount (Single, Surviving Spouse, or Head of Household)

Completed Phaseout $38,511 $43,756 $46,997 $14,590 Amount (Single, Surviving Spouse, or Head of Household) Threshold Phaseout $23,260 $23,260 $23,260 $13,540 Amount (Married Filing Jointly)

Completed Phaseout $43,941 $49,186 $52,427 $20,020 Amount (Married Filing Jointly)

The instructions for the Form 1040 series provide tables showing the amount of the earned income credit for each type of taxpayer. (2) Excessive Investment Income. For taxable years beginning in 2014, the earned income tax credit is not allowed under § 32(i) if the aggregate amount of certain investment income exceeds $3,350. .07 Rehabilitation Expenditures Treated as Separate New Building. For calendar year 2014, the per low-income unit qualified basis amount under § 42(e)(3)(A)(ii)(II) is $6,500.

loading…

Page 10

Official source

- 10 -

Item One Two Three or More None Earned Income $9,720 $13,650 $13,650 $6,480 Amount Maximum Amount of Credit $3,305 $5,460 $6,143 $496 Threshold Phaseout $17,830 $17,830 $17,830 $8,110 Amount (Single, Surviving Spouse, or Head of Household)

Completed Phaseout $38,511 $43,756 $46,997 $14,590 Amount (Single, Surviving Spouse, or Head of Household) Threshold Phaseout $23,260 $23,260 $23,260 $13,540 Amount (Married Filing Jointly)

Completed Phaseout $43,941 $49,186 $52,427 $20,020 Amount (Married Filing Jointly)

The instructions for the Form 1040 series provide tables showing the amount of the earned income credit for each type of taxpayer. (2) Excessive Investment Income. For taxable years beginning in 2014, the earned income tax credit is not allowed under § 32(i) if the aggregate amount of certain investment income exceeds $3,350. .07 Rehabilitation Expenditures Treated as Separate New Building. For calendar year 2014, the per low-income unit qualified basis amount under § 42(e)(3)(A)(ii)(II) is $6,500.