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Earned income credit (eic) worksheet—lines 42a and 42b Form: What You Should Know
Form 990- eFile.com The New York State EIC is based on the credit for the state personal property tax (CPT) on the taxable income of each qualifying child. For example, if you are married filing jointly and your gross income is 80,000, you can exclude up to 9,500 in income from the NYS EIC and, if you have more than 5 qualifying children, you can exclude up to 14,000 in income from the NYS EIC for each qualifying child. 45-9.902. To find out the amount of the credit for the state personal property tax, enter the amount from lines 18B and 18C, and then the total on line 19. 46-9. 48. If you paid the NYS EIC tax on income from qualifying children, enter the amount in a separate row on Table 2 of the Form 1040 Worksheet and enter it on line 20 of the IRS Form 4781. 48a. 48b. 49. Enter the amount in a separate row on Table 3 of the Form 1040 Worksheet and enter it on line 20 of the IRS Form 4781. Amount of credit. Enter the following amount on line 21 of your Form 4781 using line 23 of the IRS Form 4781; the credit for New York's personal property tax, the 200.00 credit claimed by the eligible dependent on line 22 of the Form 4781, and add the 50.00 additional credit claimed on lines 25 and 26 of the Form 4781. 49.2.50. Form 4781. Enter the following information on line 21 of the Form 4781 using lines 23 and 26; the number of qualifying children, the amount of NYS property tax withheld. The amount is added to line 22 of the Form 4781. Eligible dependent. You must make sure the New York State EIC applies to an eligible dependent. Enter the child's name, age, sex, and county of birth (if not listed on Schedule EIC) in this section. 51. Line 21. Enter the name, age, sex, date of birth, and county of birth (if not listed) of an eligible dependent of one or more qualifying children.
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