1099 misc income and EIC?
Asked Jan 15, 2011, 09:49 AM
My boyfriend will be receiving a 1099 misc for about $14,000 for self employment. We have lived together for 15 years and have 3 children that are qualified for EIC. I did not work in 2010. This is our total household income for 2010. There are no expenses associated with his work. He installs floor covering.
My questions: Will he be able to claim the EIC and if so will those credits offset what he will owe? No taxes were paid in 2010. Will he receive a refund at all, or will he still owe? Is he able to claim me as a dependent also? What is the best way to file? Is it possible to efile online without going to a professional?