|
#1
| |||
| |||
| Phil Marti wrote: - quote - > "khelek" wrote:
than the $1200 already received including the $300 for the child.> > As in previous years, I'm using the online version of TaxCut for my > > taxes. My wife and I are filing married/joint, as in years past. Last > > year we received $1200 from the "stimulus" that was passed as an > > advance for 2008. My understanding is, and confirmed by the IRS, that > > if we had a child in 2008, we would get the additional $300 that we > > didn't get last year (again, because it was an advance for 2008 > > taxes). We had a child at the beginning of July 2008. > > > I have included our new bundle of tax deduction in our taxes and he > > has a social security number, which is also entered. During the dialog > > for TaxCut, it asks about the 2007 "stimulus" and how much we > > received. I told it that we received the full amount we were due at > > the time ($1200). However, it never mentioned anything about the fact > > that we had a child born in 2008, and said that we are not due any > > more money. Doing my research on the web, it looks like if TaxCut had > > done something automatic, there would be something on line 70, > > "Recovery Rebate Credit", but that line is left blank. > Suspect # 1: You didn't tell Tax Cut that the child lived with you for 12 > months. This is the appropriate entry for a child who was born or died > during the year. (Congratulations, BTW.) A way of checking this is to see > whether you're getting the Child Tax Credit on line 52. Fixing the one > entry will cure both problems. > Suspect # 2: You had a 2008 spike of income sufficient to make you > ineligible for the credit. Right-click on line 70 to open the worksheet for > that line and check the calculations and the entry near the bottom for the > amount of stimulus payment you received. Suspect #3. The tax on the 2008 doesn't generate an RRC higher -- << ------------------------------------------------------- > << 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. > << ------------------------------------------------------- > |
| | |||
| |||
| "khelek" wrote: - quote - > As in previous years, I'm using the online version of TaxCut for my
Suspect # 1: You didn't tell Tax Cut that the child lived with you for 12> taxes. My wife and I are filing married/joint, as in years past. Last > year we received $1200 from the "stimulus" that was passed as an > advance for 2008. My understanding is, and confirmed by the IRS, that > if we had a child in 2008, we would get the additional $300 that we > didn't get last year (again, because it was an advance for 2008 > taxes). We had a child at the beginning of July 2008. > I have included our new bundle of tax deduction in our taxes and he > has a social security number, which is also entered. During the dialog > for TaxCut, it asks about the 2007 "stimulus" and how much we > received. I told it that we received the full amount we were due at > the time ($1200). However, it never mentioned anything about the fact > that we had a child born in 2008, and said that we are not due any > more money. Doing my research on the web, it looks like if TaxCut had > done something automatic, there would be something on line 70, > "Recovery Rebate Credit", but that line is left blank. months. This is the appropriate entry for a child who was born or died during the year. (Congratulations, BTW.) A way of checking this is to see whether you're getting the Child Tax Credit on line 52. Fixing the one entry will cure both problems. Suspect # 2: You had a 2008 spike of income sufficient to make you ineligible for the credit. Right-click on line 70 to open the worksheet for that line and check the calculations and the entry near the bottom for the amount of stimulus payment you received. -- Phil Marti Clarksburg, MD -- << ------------------------------------------------------- > << 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. > << ------------------------------------------------------- > |
|
#-1
| |||
| |||
| Hello all, I'm glad I found this group for general tax questions and hope I'm not asking something that's already been discussed (I've done some searching on the web and haven't found an answer yet). If it's been discussed already, please excuse me (and feel free to point me to the previous discussion) As in previous years, I'm using the online version of TaxCut for my taxes. My wife and I are filing married/joint, as in years past. Last year we received $1200 from the "stimulus" that was passed as an advance for 2008. My understanding is, and confirmed by the IRS, that if we had a child in 2008, we would get the additional $300 that we didn't get last year (again, because it was an advance for 2008 taxes). We had a child at the beginning of July 2008. I have included our new bundle of tax deduction in our taxes and he has a social security number, which is also entered. During the dialog for TaxCut, it asks about the 2007 "stimulus" and how much we received. I told it that we received the full amount we were due at the time ($1200). However, it never mentioned anything about the fact that we had a child born in 2008, and said that we are not due any more money. Doing my research on the web, it looks like if TaxCut had done something automatic, there would be something on line 70, "Recovery Rebate Credit", but that line is left blank. My question is, are there any other TaxCut users (or H&R folks) reading who can give me guidance in what I need to do to get the additional money. Thank you for any help you can give! Brian Johnson -- << ------------------------------------------------------- > << 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. > << ------------------------------------------------------- > |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Claiming stimulus payment on 2008 return? D.F. Manno: It's well past the Oct. 15 deadline to file a 2007 tax return and receive a stimulus payment this year. IRS says that those who have not filed by... | Taxes | 5 | 12-20-2008 06:16 PM | |
| Stimulus Carryover to 2008? njoracle: A self employed person had a bad year in 2007 and had less then $3000 income for 2007. Therefore, the person won't be eligible for a stimulus... | Taxes | 19 | 04-18-2008 01:26 AM | |
| Stimulus Act 2008 - Rebate valentino: My daughter, grad student, files as single, I don't claim her as a dependent. Her earned income in 2007 is 5000, cap gains = 20000, takes std... | Taxes | 7 | 02-11-2008 10:08 PM | |
| Question on Economic Stimulus Act of 2008 - HR 5140 EB: Just a simple question on the "Final version (Enrolled Bill) as passed by both Houses" of this bill. It can be found on the Library of Congress... | Taxes | 9 | 02-11-2008 10:04 PM | |
| Filing income tax for 2004 - just born child without SS# yet Al: My fourth son was born in mid November 2004. I am almost ready to file my taxes but I am having problems including him as dependent because he does... | Taxes | 4 | 04-06-2005 03:57 PM | |
| Thread Tools | |
| Display Modes | |
| |