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of so much of the taxpayer's earned income as does not exceed the
earned income amount. See sec. 32(a). Earned income includes
wages, salaries, tips, and other employee compensation plus net
earnings from self-employment. The amount of earned income
credit to which petitioner is entitled is a computational matter.
On the basis of the record, we find that petitioner earned
gross income in the amount of $23,519 for the 1994 tax year and
that petitioner had one qualifying child in 1994. Therefore,
based on statutory guidelines for the 1994 tax year, we find that
the earned income credit allowed would be $37. Respondent is
sustained on this issue.
To reflect the foregoing,
Decision will be entered
under Rule 155.
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Last modified: May 25, 2011