"Jim" wrote:

- quote -

Yes. The starting point for the calculation is income tax after credits.
In your case that's zero. However, you have at least $3,000 of "qualifying
income" in your Schedule C bottom line. Thus, you'll get the minimum of
$600 for a joint return.

There's a calculator at www.irs.gov where you can confirm this.

--
Phil Marti
Clarksburg, MD

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My 2007 tax return shows a total of $5,300 in Schedule C business income
plus $1,000 in interest income. No other income. I am married, filing jointly.
Am I likely to be receiving one of those tax rebate checks now being mailed?

Thank you,
Jim

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >