Ask Experts Questions for FREE Help !
Ask
    bigsexy2010's Avatar
    bigsexy2010 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 5, 2009, 02:36 PM
    Filing for 2008 Taxes.
    2008 has been a very bad year income wise for myself. I have 2 kids and the only source of income that I had was unemployment compensation. Will that be counted as income for 2008 :confused:and will I be able to get the child tax credit and/or EITC?
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
    		  
    #2

    Jan 5, 2009, 02:40 PM

    You must file your unemployment as income. I don't know if you will be getting a refund, but you should get the EIC credit and receive some sort of refund check.
    de_de_gc's Avatar
    de_de_gc Posts: 66, Reputation: 4
    Junior Member
    		  
    #3

    Jan 5, 2009, 02:59 PM

    I am sorry to hear that the year was so difficult for you.

    For federal purposes, unemployment is taxable income, so you definitely need to file a tax return. Note: I vaguely recall that not all states agree with the fed, so be sure to check to see if your home state treats unemployment benefits as taxable income.

    The child tax credit is available to you.

    Unemployment benefits are NOT considered earned income. Therefore, no EIC.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Jan 7, 2009, 01:26 AM
    If you had ANY earned income at all, then you should qualify for the EIC.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

2008 taxes [ 3 Answers ]

How can I found out how much I will be getting back for 2008 income tax return

Taxes for 2008 [ 2 Answers ]

I received a military bonus for $20,000, and already received $10,000 of it. The bonus got taxed 25%. I have made $29,000 this year so far, and $9,050 have gotten taken out for taxes so far. Do you think that I will get some of the money back. Or can somebody help me by figuring out if I will make...

F1 student , late tax filing 2008 [ 2 Answers ]

Background: I am an international student on F1 visa in state of ca,I I had filed tax return for 2006 -07 one week before the last date on which I was supposed to get some money from the govt. For some reason , I found the mail back in my mailbox after the deadline apparently it never went to the...

Filing 2007 tax returns in 2008 [ 3 Answers ]

:( I forgot to add income of my one w2 (2007) form while filling tax returns for 2008 what shall I do now ?

2008 Tax Filing: L-1 Visa for first time, what should I be careful of? [ 1 Answers ]

I will be filing tax for 2008 being on L-1 visa for first time and I would like to ask for help. 1. Do you recommend that I use software filing (ie. Taxcut) or use tax consultant in person? - If I should use a tax consultant, can you tell me what are my advantages are? 2. Is there anything...

View more questions Search