I have just found out that I can still file for child tax credit. I have a 15 year old daughter at home. I was told that I can file a Schedule C. And I can file for the last five years.
Can anyone confirm this for me? It would be of great help.
2007-09-03 04:11:06 · 3 answers · asked by Debra 2 in Business & Finance ➔ Taxes ➔ United States
A Schedule C is for Self-employment (unincorporated business). If you did not have one, you cannot file a Schedule C. The Child Tax Credit is claimed on the 1040, not Schedule C. You can only get a refund for the last 3 years, not 5. The refund is lost 3 years after the due date of the return.
2007-09-03 04:39:42 · answer #1 · answered by exirsman 5 · 1⤊ 0⤋
Maybe. Did you have any tax liability for those years? If you did, and didn't take the child tax credit, yes you can, and you don't need a schedule C, it's taken on the main1040 or 1040EZ form -the form to amend either of those is 1040X. You couldn't go back five year though, just three - if you are eligible for it, you can still get your extra refund for 2004 through 2006.
If you didn't have tax liability for those years, then no you can't get the child tax credit for any year where you didn't pay any taxes.
I'm not sure why someone would have told you to file a schedule C - that's for income from self-employment. If you have some kind of side income that was never reported, then yes you'd be required to file a schedule C showing that - then if that resulted in any income tax owed, you could also file for the child tax credit.
2007-09-03 12:38:58 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Yes you can, I had almost the same scenario as you and I received my taxes for 3 years back.
2007-09-03 11:21:41 · answer #3 · answered by Shawnee 5 · 0⤊ 0⤋