I have been a stay at home mom for most of the year, but within the last 2 months I have made $3000.00 and I have two children. I was wondering do I have to make a certion amount of money to file the "kid" credit?
2006-12-14 11:32:36 · 3 answers · asked by April S 1 in Business & Finance ➔ Taxes ➔ United States
Are you single or married? If single, then you will not get the Child tax credit because you will not owe any tax because your incom is to low. The Child tax credit is not refundable like the Earned Income Credit is. You will qualify for Earned Income Credit though. If you are married, then you need to file a joint tax return to get the Child Tax Credit. If you file separately, then you will not get the Child Tax Credit at all.
2006-12-14 11:55:59 · answer #1 · answered by Steve 6 · 1⤊ 0⤋
You'd have to owe taxes to get the child credit. If $3000 was your total income for the year, then you would not owe any taxes. If you're getting child support, that doesn't count as taxable income so would not change the answer.
If you were married for most of the year, were recently separated but aren't divorced, or if you're married and still together with your spouse who also has income, then things could get a little more complicated.
2006-12-14 21:52:20 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Yes you do. But it looks like you are well below the specified amount.
2006-12-14 19:35:57 · answer #3 · answered by Ambassador Z 4 · 0⤊ 0⤋