Auughh!! Tax Time!!

Beelzebaby666

Beelzebaby666

Has confinement issues..
I have several questions...

Do you always qualify for EITC and the child tax credit so long as the child has lived with you all year?

Turbo Tax is telling my friend who has been living apart from her husband for a year and who falls within the income requirements that she's not eligible for either?


:confused:

I'm thinking the hold up is that she has to file as married, but filing separately.

Anyone savvy to that kind of thing?

TIA
 
Nickel

Nickel

curiouser and curiouser
Beelzebaby666 said:
Do you always qualify for EITC and the child tax credit so long as the child has lived with you all year?
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I think that depends on income.
I'm thinking the hold up is that she has to file as married, but filing separately.
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That sounds about right. Wouldn't his income still play a part in her tax liability?

I think Pandora's a tax guru, she'd probably know.
 
onebdzee

onebdzee

off the shelf
I think it depends on when she split from her hubby and what he is filing

If she is paying most of the bills for the dependant child(ren) than she can actually claim head of household and if she meets the income requirements for EIC she will get it

If he is paying most of the bills she might have to file married filing seperately and then claim the child(ren) on her taxes

Either way, she will get the child tax credit if she meets the requirements

Turbotax should walk her thru all of this
 
P

Pandora

New Member
Based on the information you provided B, she isn't eligible to claim the Earned Income Tax Credit because her filing status is "Married filing a separate return"
 
Beelzebaby666

Beelzebaby666

Has confinement issues..
Well that sucks for her. Hubby was a bum and now he's still dragging her down.:frown:

She has redone it three times and her return isn't even a thousand dollars?? I don't get that.


Poor kid. She really needed the money to get a car on the road. Sucks when you work all year and don't get anywhere:ohwell:
 
P

Pandora

New Member
I just want to add a quick little note here.

I USED to run a tax business, and I am not taking any clients. I just thought I'd state that here, because every year, somebody hears through the grape vine blah blah blah and frankly, it just got to be too much for me to juggle the last few years. I also do not know anyone that is currently a tax preparer. :cheesy:
 
P

Pandora

New Member
Beelzebaby666 said:
Well that sucks for her. Hubby was a bum and now he's still dragging her down.:frown:

She has redone it three times and her return isn't even a thousand dollars?? I don't get that.


Poor kid. She really needed the money to get a car on the road. Sucks when you work all year and don't get anywhere:ohwell:
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That is the worst filing status to file under. :ohwell:
 
Beelzebaby666

Beelzebaby666

Has confinement issues..
Thanks a lot folks:huggy:

In five minutes, she went from tears to cheers as I'm talking her through the tax prep :yay:

We're working it out, but every change she makes changes her eligibility:dead:
 
P

Pandora

New Member
I really would suggest she check on her soon to be ex's (whatever is going on there) filing status. If they are legally separated under a divorce or separate maintenance decree, and she is raising a child, she can file Head of Household but you don't want both claiming the child(ren), red flags will go off, immediately. I assumed when you asked this question, she already knew what status she had to file under.

Edit to add this: No decree, she has no other choices but married filing separate or married
 
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T

Tigerlily

Luvin Life !!!
What ticked me off was that I lost the Child Tax Credit on my oldest as she is now 17. Even though last year she was 16 for six months and three days. :ohwell:
 
P

Pandora

New Member
Tigerlily said:
What ticked me off was that I lost the Child Tax Credit on my oldest as she is now 17. Even though last year she was 16 for six months and three days. :ohwell:
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The whole, last day of the year rule. Like a baby born on 12/31 at 11:59 gets full year deduction. :lol: PUSH HARD....
 
crabcake

crabcake

But wait, there's more...
Mikeinsmd said:
I love me some Turbo Tax!! :yahoo:
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Me too! Just e-filed mine this morning. I've been using it for years without any problems. In the event I came across something that I couldn't figure out/understand, I had a friend who used to run a tax business :whistle: who'd provide a little guidance. :smile:

Now ... wonder how long until Uncle Sam shows me my money! :yahoo:
 
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