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Form 8862 for Montgomery Maryland: What You Should Know

You might need to file Form 8862, “Information to Claim Earned Income Credit After Disallowance,” before you can claim the EIC again. Income Limitation for Child Tax Credit: If the amount of credit you are claiming for your child exceeds your adjusted gross income, you may not be able to use any of your additional income for any year for the child's EIC or Child Care Credit. Example: You earned 10,000. You have no income from any other source. This is the base limit for the EIC for your child. You earn additional income of 2,000 which you used to claim the child as a dependent for tax purposes. You may claim the additional income from any source of income for your child. Your income after the exclusion of the other income would be 12,000, which would not be enough for the child to qualify for the child tax credit. You must file and attach Form 8881 (Form 1040 for Federal Income Tax) if you claim a credit for the child. (Form 1088 for State Income Tax is not required if the other income is more than the child's share of your adjusted gross income.) In addition to filing, file Form 8862, “Information to Claim Earned Income Credit After Disallowance, ‥ and return to this page for details. You may have to attach the required forms separately for each child who receives a credit for the tax year because of the exclusion of income of your other children. Income Limitation for Child Care Credit: If the amount of the credit you are claiming for the child exceeds your adjusted gross income, you may not be able to use any of the additional income from any family of children or for any year for the child's Child Care Credit.  Example: You earn 20,000. You have no income from any other source. This is the base limit for the Child Care Credit for your child. You earn additional income of 7,500 which you used to claim the child as a dependent for tax purposes. You may claim the additional income from any source of income for your child. Your income after the exclusion of the other income would be 23,500, which would not be enough for the child to qualify for the child care credit. You must file and attach Form 8881 (Form 1040 for Federal Income Tax) if you claim a credit for the child.

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