i am full time student and i have a child and I have not worked at all this year i just want to know if i still can claim something?
2006-12-10 18:11:51 · 8 answers · asked by ME 1 in Business & Finance ➔ Taxes ➔ United States
The dependent exemption and child tax credit can only be used to reduce your taxable income to zero. You cannot get anything back if you haven't paid anything in. However, if you have three children or more, then the child tax credit can then be a refundable credit, which means that you can end up with a "negative" tax, which may result in you getting back more than you put in.
2006-12-11 02:39:55 · answer #1 · answered by jseah114 6 · 0⤊ 0⤋
If you have income and have paid income tax during the year, you can claim your child as dependent and reduce your income tax. If you have no income, you have nothing to claim unless the government offer baby bonus if you file a return.
2006-12-10 18:19:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you had a significant amount of some other kind of taxable income, like interest for example, you might be required to file. Otherwise, there's nothing to file.
And if you're talking about getting a refund, there's nothing to refund.
2006-12-11 13:49:42 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
i anticipate somebody is assisting you including your expenses when you consider which you haven't any longer earned money this 3 hundred and sixty 5 days. you have some strategies. a million. you could declare your babysitting money, wherein case you're able to owe the IRS earnings taxes, self-employment taxes, Social safety, and in all possibility state taxes. you're able to in all possibility no longer could desire to pay this in case you declare your guy or woman babies to that end. 2. you're able to enable the guy who has helped you financially to declare your babies, thereby reducing their tax criminal duty, and in all possibility getting a miles better refund and sharing it with you.
2016-12-30 06:11:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on what it is. If it's mortgage interest or property taxes, then yes, if you itemize. But the deductions will only reduce your taxable income, they won't get you any additional refund if you had no income.
2006-12-10 22:25:27 · answer #5 · answered by crazydave 7 · 0⤊ 0⤋
I think there is the daycare refund, whether you pay in or not.
2006-12-10 18:19:48 · answer #6 · answered by Susan M 7 · 0⤊ 1⤋
Thank god NO ...I hope they get rid of that unearned income bull crap soon.
2006-12-10 18:14:38 · answer #7 · answered by Hooligan 4 · 0⤊ 1⤋
No....
money in, money out... however, no money in, no money out... no exceptions. Just the way it is.
2006-12-10 18:15:54 · answer #8 · answered by yankeeroses3 2 · 0⤊ 0⤋