Can I claim all 5 kids on my taxes and get back, for each one, even if i made less than 3,000 dollars.?

Question

I am not sure if i can claim all 5 or if it really matters, because of the max amount of money they allow you to get back. but i know i dont owe taxes. and i made less than 3,000 dollars. pleas let me know i know i didnt make much but i dont understand when they say you can get 1.000 dollars back for each child? huh? not really sure what is true or not
someone pleae help.

i am from chicago.illinois

Answer 1

With five children and $3,000 of W2 wages, your Earned Income Credit is about $1,200. That will be your refund.

You do not have enough income to qualify for either the Child Tax Credit or Additional Child Tax Credit.

Answer 2

You can claim all 5 kids for the dependacy deduction. But even just claiming yourself without the kids, you wouldn't owe any tax on your income.
The Child Tax Credit only lowers your tax liability. No tax, no credit. Even if you had qualified for the credit, you do not get the remainder after the reduction of your tax.
You should qualify for the Additional Child Tax Credit and the EIC.
Both of which will increase your refund.
The EIC is based on your earned income and tops out at 2 children. No extra for the other 3 kids.

Answer 3

File reporting all of your income and all of your eligible dependents. You won't owe any tax if you made less than $3000, but should be eligible for two "refundable" credits, the Additional Child Tax Credit and the Earned Income Credit. "Refundable" means you get the money even if you don't owe any taxes.

Answer 4

No, that's not true.

If you made more money , then between the income reduction of the dependency exemptions, and the child credits, and possibly EIC, each child might represent quite a bit in tax savings.

But if you earned only $3000 - for starters - I don't know how you can claim to "support" 5 kids on that. That's not enough for even ONE person to live on for a year.

You don't have any tax due - so any tax credits are moot.
If your tax due is zero - you could have a million dollares in tax credits - but you can't reduce a $0 tax debt any further than $0.

EIC is different - because it's money that doesn't merely lower your tax due - but is given to you even if you don't have any tax due. But if you make that little - you don't qualify for any.

Answer 5

If you have three children or more that qualify for the child tax credit, then the credit is a refundable credit, so it can reduce your liability below zero and you will get the excess credit back. The child tax credit will reduce your liability to zero, and you will get an "additional child credit" for the difference between the maximum child tax credit and the child tax credit you get.

Answer 6

Because of the Earned Income Credit, you should get a bundle of money back. Be sure that no one else is claiming any of the kids. It gets hairy if 2 people claim to have supported the same child.

Answer 7

You need to claim every person who you provide over half of the care for. You are eligible for Earned Income Credit, with the maximum limit of 2 children, If you still had any taxable income left you could then be eligible for Child Tax Credit and Extra Child Tax Credit. Since you zeroed out on income you will not need nor be able to use these extra credits.
Please don't be tempted to let others "use" the 'extra' kids for deductions. This can cause untold heartache along with debts you can spend years trying to pay.

good luck & happy v day

Answer 8

File your taxes and claim all five children. If they are all your qualifying dependents, then you should qualify for an Earned Income Tax Credit and the Additional Child Tax Credit. You can qualify for the EIC as long as you have earned income of at least $1.00.

Answer 9

go to a tax preparer an have them look it over for free you should get back pretty good .

Answer 10

Do the return and find out for sure.