"Tom" wrote:

- quote -

One of the most maddening features of software is the fact that it updates
after every entry. The bottom line isn't the bottom line until the return
is done. By the time you finish your return that credit may disappear
because of further developments.

For example, I have a small amount of W-2 income on my 2008 return. When I
input that to my software it showed that I'd be receiving the Earned Income
Credit. Of course, after I input my pension that credit went away.

So please don't come back wondering why if your RRC isn't there in the end.
Once the return is done you can look at the worksheet to see why you did or
did not qualify.

--
Phil Marti
Clarksburg, MD

--
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On Mar 3, 8:34 am, "Tom" <T...[at]cppc.com> wrote:

- quote -

Did you not get a stimulus check last year?

- quote -

If you didn't get your $600, $300, $1200 or whatever it was last year,
or got part of it, you may get the remainder this year if you
qualify. Basically you need to have a valid social security number,
income below a certain threshold (the phaseout is from 75k to 87k for
single filers if I remember correctly), etc. If you had a new child
in 2008, you qualify for an additional $300.

http://www.irs.gov/newsroom/article/...186065,00.html

--
<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >

I was very surprised to enter an income into TaxCut and see my tax go down.
I traced the decrease to getting a Recovery Rebate Credit; line 70 on 1040.
I did not get one last year, but apparently I might qualify now.

I am looking over the worksheet and it is amazingly confusing.
Can you give me a hint as to what makes one qualified, or unqualified?

--
<< ------------------------------------------------------- > << 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. > << ------------------------------------------------------- >