|
#3
12-28-2005, 11:39 PM
| |||
| |||
 Re: Earned Income Tax Credit Question D Loud wrote: - quote - > In layman's (or "Dummies") language would someone be willing
If you don't work, you don't have any earned income. Social> to post what this is exactly and how it works. I'm 63, > haven't worked for a couple of years and filed no returns in > those years. Also, is Social Security (around 9 K) > considered income in relation to "earned income?" Security benefits are neither "earned" income nor taxable income. The EIC credit does not apply to you. If you need to know more, read Pub 596. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#2
12-28-2005, 07:59 PM
| |||
| |||
| Re: Earned Income Tax Credit Question D Loud <connectu2[at]verizon.net> wrote: - quote - > In layman's (or "Dummies") language would someone be willing
It's a tax credit that benefits people who work, thus the> to post what this is exactly and how it works. I'm 63, > haven't worked for a couple of years and filed no returns in > those years. Also, is Social Security (around 9 K) > considered income in relation to "earned income?" name "Earned Income Tax Credit." Social Security is _not_ considered earned income, so you don't qualify. Sorry. -- D.F. Manno | dfm2a3l0t2[at]spymac.com << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#1
12-28-2005, 07:40 PM
| |||
| |||
| Re: Earned Income Tax Credit Question connectu2[at]verizon.net (D=A0Loud) asked: - quote - > In layman's (or "Dummies") language would
Short answer: It's either a salary or the earnings from> someone be willing to post what this is exactly > and how it works. I'm 63, haven't worked for a > couple of years and filed no returns in those > years. self employment -- but it should come from your time or labor. Long answer can be found in Pub 17, Chapter 38 -- in 2004 edition, at least. - quote - > Also, is Social Security (around 9 K)
No.> considered income in relation to "earned > income?" Bill << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
12-28-2005, 01:59 AM
| |||
| |||
| Re: Earned Income Tax Credit Question "D Loud" <connectu2[at]verizon.net> wrote: - quote - > In layman's (or "Dummies") language would someone be willing
Not really relevant since you have no taxable income.> to post what this is exactly and how it works. I'm 63, > haven't worked for a couple of years and filed no returns in > those years. Also, is Social Security (around 9 K) > considered income in relation to "earned income?" -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
|
#-1
12-27-2005, 10:49 PM
| |||
| |||
| Earned Income Tax Credit Question In layman's (or "Dummies") language would someone be willing to post what this is exactly and how it works. I'm 63, haven't worked for a couple of years and filed no returns in those years. Also, is Social Security (around 9 K) considered income in relation to "earned income?" TIA DL << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2005) - All rights reserved. > << ================================================== ===== > |
| Tags |
| credit, earned, income, question, tax |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Child Credit when no earned income? Mike Lewis: 43 Year old divorcee with 3 dependent children (all under 17) only has disability benefits from Social Security of $14,500. Can she get any child... | Taxes | 16 | 01-30-2005 11:20 PM | |
| Earned Income Credit question enduranceal: John has been living with Mary and Mary's two children for the past five years. John and Mary are not married and John is the only wage earner in... | Taxes | 6 | 01-30-2005 11:01 PM | |
| Earned Income Tax Question Rutgers10: If a taxpayer has a child (the child is away at college), the child is a full time student, the parent and child lived in the US, and the taxpayer... | Taxes | 5 | 09-10-2003 06:21 AM | |
| Thread Tools | |
| Display Modes | |
| |
Linear Mode
