Comments on: Earned Income Tax Credit

By: –› How Much Money Do I Have to Make to File Taxes?

–› How Much Money Do I Have to Make to File Taxes? — Sun, 17 Jan 2010 14:30:16 +0000

[...] You may want to do this if you had any federal withholding or are entitled to tax credits, like the earned income tax credit, to get a [...]

By: –› How Much Money Do You Have to Make to File Taxes?

–› How Much Money Do You Have to Make to File Taxes? — Sun, 17 Jan 2010 13:38:03 +0000

[...] You may want to do this if you had any federal withholding or are entitled to tax credits, like the earned income tax credit, and want to get a [...]

By: Ashley

Ashley — Thu, 17 Dec 2009 23:16:16 +0000

I only worked a month and a half this year. However, I am a full time student and I have a two year old. Will I get a refund?

By: TaxGab

TaxGab — Thu, 19 Feb 2009 15:30:01 +0000

@ Amanda O: I have a guess, but let me forward it to my contact at the IRS for clarification.

By: –› The Ultimate Tax Resource Guide

–› The Ultimate Tax Resource Guide — Mon, 16 Feb 2009 13:32:40 +0000

[...] Earned Income Tax Credit. The earned income tax credit (EITC), which is refundable, is intended to help low to moderate income individuals and families and provide an incentive to work. [...]

By: Weekly Roundup - One Million Edition | Cash Money Life : Cash Money Life

Weekly Roundup - One Million Edition | Cash Money Life : Cash Money Life — Sun, 08 Feb 2009 18:49:30 +0000

[...] Earned Income Tax Credit. Information on Earned Income Tax Credits for 2008. Good info for the tax season! [...]

By: Amanda O

Amanda O — Sun, 08 Feb 2009 15:13:31 +0000

My two kids are full time college students and both earned enough in part time jobs last year that I stopped giving them money each month for their support. They also both have scholarships that pay for tuition, books, room and board and a small stipend each semester.

The portion that is not for tuition is taxable. Last year they had about half the scholarship money they do this year and I ended up owing a significant amount more on my taxes because I still had to claim them as dependents.

I have their 2008 1099s. Both kids have several thousand dollars in taxable scholarship dollars, so I’m trying to figure out if this is the year it would be better for them to file individually and me to stop claiming them as dependents. I’m hoping that the total taxes for all three of us will be lower if they pay taxes on the scholarship money at their lower tax rates. Also, they may still be eligible for the EIC and one of the tuition tax credits, but all the tax information I’ve seen regarding how this money affects the EIC or the various education tax credits is unclear.

Do you have any advice on how taxable scholarship money is counted towards the earned income tax credit or the education tax credits?