I am a single mom with one child and I work full time
2006-12-05 09:06:50 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
The Earned Income Credit is a sort of bonus the government gives to low income people who are working and making some money. The amount you get depends on your income, and if you have no children, one child, or more than one (you don't get extra money beyond the second child).
It depends on how much your income is. If your child is your dependent and your earned income is less than $32,000 or so, then yes - the amount will vary depending on how much you make. Earned income includes salary and wages, but not things like interest or capital gains.
Last year, the most you could get with one child was $2747, and that was if your earned income was between $8000 and $16,850 for the year. With income higher or lower than that, it was less, sometimes much less. The numbers might change a little this year, but not much.
2006-12-05 14:18:47 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
Roy is correct. Please do not entrust your tax preparation to anyone who gives an unqualified "Yes" to this question. It depends on your earned income (you don't get EIC until you earn a certain amount and you don't get it above a certain amount - a little over $30,000 if memory serves). It also depends on your unearned income. If you have too much of that, you do not qualify in any case.
2006-12-05 18:37:27 · answer #2 · answered by skip 6 · 2⤊ 0⤋
earned income credit is based on how much money you made the past year. you will have to talk to a tax person to learn just how much you're eligible for
2006-12-05 18:05:00 · answer #3 · answered by roy40372 6 · 3⤊ 0⤋
YES YOU ARE ELIGIBLE.
CHECK OUT HTIS SITE.
http://www.irs.gov/
2006-12-05 17:11:41 · answer #4 · answered by mona75243 4 · 0⤊ 2⤋
Yes you are.
2006-12-05 17:16:46 · answer #5 · answered by nwnativeprincess 6 · 0⤊ 3⤋