Earned income

by Dan
(Indiana)

We received an out of court settlement in a liability suit we filed. It was only $3250.00. Do we have to claim this as Earned Income and where do we show it on. I usually just file 10-40EZ, we just have w-2’s. If I claim this, where should I show the Earned Income and can I subtract the expenses like filing fees and medical cost?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Credit

by Ken
(West Seneca New York)

My son is 17 yrs. old and filing for the first time. Can he take the EIC on his 1040EZ form.
Thank you

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Credit

I'm doing my taxes - Trying to do worksheet for Earned Income Credit. I'm self employed filing Schedule C.
Income is noted on Line 12 of 1040 (profit on Schedule C) Doing worksheet for EIC - after entering amount from Schedule SE Sec A line 3, it says to enter amount from line 29 of 1040 which is self-employed health insurance - I thought you deducted self-employment tax. Which is it? (also is it 1/2 the SEP tax credit)????
Thanks, Judy

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Credit

by Frankie
(Kingman, AZ)

I am a single mother of three. I have been going to school so I have no w2's. Can I file for the earned income credit?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Credit and Minimum Deductions

by Janet
(Daytona, FL)

While working my taxes online I saw that I had a minimum deduction of 8500. I also have and and earned income tax credit of up to 5666. I am claiming myself and two dependent children under 16 years of age. my income was only 2100. How can my refund only be 1021., when both my minimum deduction and the EIC are so much more? I have no other deductions and am filing on the easy form.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Tax Credit

by Janelle
(Miami, FL , USA)

Earned Income Tax Credit

Earned Income Tax Credit

Good day~
I worked as an Independent Contractor and am filing 1040 as head of household for 2010. I earned a very small amount on my 1099-misc ($600) and some unemployment 1099-G ($1765. I have 3 young children, one which was born in 2010. I was trying to filing independently using an e-file program. The program final report was no refund. I think this is wrong. If I'm not mistaken, I should be eligible to receive something for the fact that I have 3 children. Am I right?

Click here to read or post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

Earned Income Tax Credit and Self Employment

I have a full time job in which I can use the earned income tax credit. I am thinkin of starting a repair company to help supplement my salary. How would the company I start effect my tax return??

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

EIC

by Travis
(Maryland)

I am 22yrs old can I get EIC on my daughter that is only 2 months old, I only made about 16,000.

Click here to read or post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

EIC Question

Thanks in advance.

I have been divorced for a half dozen years...and my ex wife and I share child custody with Tom, age 13, 50% each.

Her income is higher, so she is claiming Tom as dependent. But with 50% custody, can I claim EIC?

Thanks again. sz

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.

My Earnings

I made $20,000 this year with nothing withheld I have 2 young dependents, what will I pay in and what will I get back?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Income Tax Questions.


Please subscribe to my monthly newsletter, Bookkeeping Basics E-zine. It tells you each month about the new information that I have added, including some great tips and advice from myself and other Bookkeeping Basics readers.


Enter Your E-mail Address
Enter Your First Name (optional)
Then

Don't worry — your e-mail address is totally secure.
I promise to use it only to send you Bookkeeping Basics E-Zine.


Like Bookkeeping-Basics.net?