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3 votes
2 answers

Do withdrawals from an inherited IRA count towards the earned income tax credit?

The question says it all. Do withdrawals from an inherited IRA count towards the earned income tax credit?
user5389726598465's user avatar
3 votes
2 answers

Medical expense deduction when there is no income

If medical expenses exceed your income, is there a mechanism by which you can receive money back when you file your taxes? What impact would trying to claim the Earned Income Tax Credit have on this ...
J.Merrill's user avatar
  • 161
3 votes
1 answer

Clarification regarding disqualified income for Earned Income Credit (EITC or EIC)

I'm a graduate student with several kids. Right now I'm trying to leverage my temporarily diminished income by "backdoor" rolling-over my 401k account to a Roth IRA account, without inadvertently ...
Tahlor's user avatar
  • 141
5 votes
2 answers

Will a retirement account with more than $3,400 in it bar me from getting EITC?

EITC (earned income tax credit). Is a retirement account considered investment income by the IRS? The IRS considers these as investment income: Interest (both taxable and tax-exempt) Dividends ...
Armend Veseli's user avatar
5 votes
2 answers

I trade labor for lot rent on my live-in R.V. Can I claim any income to apply for EITC? Do I owe taxes? There is no money exchanged

I work as a farm laborer in exchange for lot rent for my own Recreational Vehicle, electricity, and water on a friend's farm. There is no cash exchange. I am the one and only "lot renter". Will ...
Audrey Martin's user avatar
1 vote
1 answer

What box on my W-2 correlates to my "earned income" for purposes of EITC?

As an example: I have $20,000 in Box 1 on my wife and my only W2 I have $35,000 in Box 3 (reflecting significant pre-tax 401(k) deductions) Filing MFJ with no kids For 2016, to claim EITC both ...
enderland's user avatar
  • 4,186