Income taxes?
I am a single mother living at home with my mother and younger sister(12 yrs old). Due to health problems, my mother hasnt been able to work in over a year, and I am the sole sourse of income. Will I be able to claim my sister and my mother as well as myself and my son as dependants on my income taxes? And will I qualify for the earned income credit?
Public Comments
- You can claim them all as dependents, but I'm not sure about the earned income credit. A quick consult call to a tax attorney should be able to tell you that.
- Talk to the local I.R.S. rep in the closest federal building. I need tax help one time and couldn't afford any outside help so I went to the I.R.S. the helped me out immensely.
- Yes you can claim them as qualifying relative dependents if they each had gross income less than 3,300 in 2006. The earned income credit is allowed if your income is low enough but it is based on only dependent children.
- Earned income credit is based on actual income, so I can't answer that question. You can claim them as dependents, since you provide more than 50% of their support. You can also file as head-of-household rather than single.
- Yes to all. As long as none of these likely dependents made over a fixed amount -- around $3,000. You have to check for the exact amount--but if they made under this, you are safe to claim them as dependents. Your source of income must come for earned Wages to qualify for the earned income credit, AND, if you make over a certain amount, you will not qualify for it. I can't recall the amount at this minute. Adjusted Gross Income would likely have to be above $35,000 to $40,000 for the year to not qualify. I'm not in my tax preparer mindset right now - I will start gearing up shortly. However, your tax preparer should be able to tell you the exact numbers. In summary, YES, you will get a tax benefit from your situation.
- From the info you give, you can claim your mom and sister as dependents, as well as yourself and your son, and can likely file as head of household. Eligibility for the Earned Income Credit depends on your income. With one child, you can earn up to $32,000 and still be eligible. Good luck.
