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No, it will not. To qualify for EIC you need earned income: working for somebody or running your own business or farm. Certain disability income you received before you reached full retirement age also qualify, but this type of income is usually reported on W2, not 1099R.
1099R is used to report distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts. It is considered passive, not earned income.
Amount in box 3 doesn't determine type of the income, only its tax treatment (taxable, nontaxable, subject to penalty....)
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