Can a person receiving workers compensation benefits get the EIC? This is my only family income.?

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Can a person receiving workers compensation benefits get the EIC? This is my only family income.?

WHAT FORMS DO I USE? I DO NOT HAVE ANY W-2 OR 1099. I HAVE ALL OF THE CHECK STUBS I HAVE RECEIVED.

2007-03-11 17:17:52 · 3 answers · asked by mail4melis 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

No, workers comp is not earned income to qualify you for EIC.

2007-03-11 17:21:57 · answer #1 · answered by Judy 7 · 3⤊ 0⤋

Do you know what EIC stands for? EARNED income credit. Workers comp is not EARNED income. So no, you can not claim the EIC.

2007-03-11 17:21:46 · answer #2 · answered by Lisa A 7 · 2⤊ 0⤋

Workers compensation is not earned income. Nor is it taxable. If this is your only income, you will not qualify for the EIC.

Details are here:

http://www.irs.gov/pub/irs-pdf/p596.pdf

2007-03-11 17:23:55 · answer #3 · answered by ninasgramma 7 · 3⤊ 1⤋