I cannot seem to get any answers on this subject do i treat it as regular income? please help
2007-11-25 15:28:18 · 6 answers · asked by clarebear517 1 in Business & Finance ➔ Taxes ➔ United States
If your only income is in the form of child support you have no reportable income for tax purposes. Therefore a return is not required.
2007-11-25 15:31:56 · answer #1 · answered by ? 6 · 1⤊ 0⤋
Child Support is non-taxable for Federal income purposes. If that is the only income you have, then you do not have to file a return.
However, if you do have other income that would put you under the floor for a return and some of that income had taxes withheld then you probably want to file in order to get those taxes back.
2007-11-25 23:36:17 · answer #2 · answered by Jesse 4 · 0⤊ 0⤋
no!! Child support has nothing to do with taxes... we do not pay taxes on child support
and....the non custodial parent does not get to claim child support on his taxes anywhere...(know from experience).
however..you said you didn't have any income..... but, if you would have had any income.... (besides C.S) i would do it and see if you get anything back - you could do a check online at a tax place..and you just don't go through and send it..and file the taxes.
but, if you have low income..you could still get taxes back because of having a child..so you would get earned income credit back..
something to keep in mind for next year.
2007-11-26 12:01:24 · answer #3 · answered by ★★★ Katharine ♥♥♥♥ 6 · 0⤊ 0⤋
Child support is not income but alimony is. If Child support is your only income then you do not have to report it. By the way I thought child support is for you children not you.
2007-11-26 16:24:54 · answer #4 · answered by Gary 5 · 0⤊ 0⤋
it would be a good idea to file a return to avoid the irs from auditing you,even if you have zero income,file a return,better safe than sorry.
2007-11-25 23:36:51 · answer #5 · answered by Anonymous · 0⤊ 2⤋
No you don't. Child support is not reportable or taxable.
2007-11-26 00:37:40 · answer #6 · answered by Judy 7 · 1⤊ 0⤋