Can you claim child credit on Capitol gains money?

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Can you claim child credit on Capitol gains money?

2007-01-11 05:46:10 · 3 answers · asked by babydoll 1 in Business & Finance ➔ Taxes ➔ United States

3 answers

only if you sell your chidren at a loss. LOL

One has nothing to do with the other. To offset gains, you need a loss.

2007-01-11 06:00:29 · answer #1 · answered by ricks 5 · 0⤊ 4⤋

The Child Tax Credit is against taxes owed on any income, whether earned or unearned. It can lower taxes on investment income.

The Earned Income Credit is a payment to taxpayers who have qualifying children and earned income, usually wages.

2007-01-11 14:24:11 · answer #2 · answered by ninasgramma 7 · 2⤊ 0⤋

If you are talking about the $1,000 per child Child Tax Credit, yes, it can be used to offset tax on capital gains.

2007-01-11 13:50:00 · answer #3 · answered by jseah114 6 · 3⤊ 0⤋