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    lalji's Avatar
    lalji Posts: 81, Reputation: 2
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    #1

    May 23, 2010, 06:21 PM
    Atlanta tax expert
    Atlanta Tax expert
    Can you advise me what is making tax pay credit and who is eligible for this. I claimed this credit in my 2009 tax return and was wondering if I am really eligible to pay this. I would really appreciate a response. Thanks.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    May 24, 2010, 10:05 AM
    If you filed Form 1040, 1040A or 1040EZ, then you are probably eligible for the Making Work Pay Credit.

    There is no restriction associated with having an ITIN. The essential requirement is that you be a resident alien, green card holder or U.S. citizen/national, have EARNED income and NOT make too much money.

    If you are a NON-RESIDENT alien, then you are NOT eligible for the Making Work Pay Credit, though you may be eligible for a retirement credit on the Schedule M. that is why there is a line entry for the Making Work Pay Credit on Form 1040NR.
    lalji's Avatar
    lalji Posts: 81, Reputation: 2
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    #3

    May 24, 2010, 04:28 PM
    I am a resident alien for tax purposes and I had claimed $800 stimulus in my 2008 tax return. Am I still eligible for this deduction?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    May 25, 2010, 01:13 PM
    It is NOT a deduction; it is a credit of up to $400 per filer, or $800 for a joint return.

    Yes, you should be eligible.
    lalji's Avatar
    lalji Posts: 81, Reputation: 2
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    #5

    Feb 5, 2011, 06:55 PM
    Atlanta tax expert,

    Am I eligible for making work credit of $ 800 this year as well? I am a resident alien for tax purposes. Please advise. Thanks.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Feb 5, 2011, 11:09 PM
    Yes. A resident alien who is MARRIED usually gets $800 for the Making Work Pay Credit.

    A single person gets $400.

    All depends on your income being within a certain range.
    lalji's Avatar
    lalji Posts: 81, Reputation: 2
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    #7

    Feb 6, 2011, 03:42 PM
    Atlanta tax expert,
    Thank you for your response.
    I also have capital gains arising from trading in stocks. Can I deduct commission expense incurred in trading stocks? Please advise. Thanks.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #8

    Feb 6, 2011, 06:28 PM
    Yes; you add the commissions for when you BOUGHT and SOLD the stocks to your basis, reducing your capital gain.
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