Friday, March 12, 2010

If i only had unemployment in 07 can i still file for the child tax credit?

i had withholding on the unemployment in the amt of 336.00 but i have 2 children i need to claim to get more of a refund

If i only had unemployment in 07 can i still file for the child tax credit?
You didn't specify if you had any other income. How do you have 336.00 in unemployment and no other income? You have to have worked for a certain amount of time to even get unemployment.Earned Income credit is only if you worked, but made under like 30K... you have to include unemployment into your return, but you may not qualify if you didn't actually work... good Luck
Reply:Unemployment is taxable income but it is not earned income so it won't qualify you for the EIC, CTC or ACTC. Sorry.





At most you'll get the $336 back but without knowing how much unemployment you received it's not possible to say on that. It's entirely possible that you may have to PAY when you file. If you post the amount of the unemployment that you received we can give you a more accurate answer.
Reply:You must include the unemployment income.





Depending on your other income, it may reduce EIC and it may reduce the additional child tax credit. (That is, you may have the same refund or LESS refund due to the unemployment. It won't increase your refund because it wasn't earned income.)


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