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Minimum Earnings to be eligible for Child Tax Credit?

Asked by: epondel 492 views YA Discussion

I understand you don’t receive child tax credit if you don’t have a real job, but…

How much is required in earnings to be eligible to receive child tax credit? I usually get around $ 3000, but this year I didn’t have a day job and have been practicing web design and Internet marketing. So far this year, I have only earned around $ 890 in commissions from Amazon, ClickBank and Squidoo. I could also add some eBay sales if need be.

Thanks!

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5 Answers



  1. rtfm on Nov 27, 2012 Reply

    You can’t have supported yourself *and* a child with no income. Who actually supported you? Who paid for your rent, and heat, and electricity, and food? That person is probably the one who is entitled to claim both you and your child as dependents.

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  2. Quick Answers on Nov 27, 2012 Reply

    “I could also add some eBay sales if need be.”

    Oh, right, admit in a public forum that you were going to manipulate your income if you thought you could get a larger refund.

    If you have actual sales of items purchased specifically for resale (aka, you have the receipts), you MUST report them. If you didn’t, DO NOT LIE.

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  3. Cathi K on Nov 27, 2012 Reply

    Not reporting your ebay sales is tax fraud and can put you in jail. You really want that?

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  4. Bobbie on Nov 27, 2012 Reply

    Am I Eligible for the Child Tax Credit?

    Am I Eligible for the Child Tax Credit: There are two parts of the Child Tax Credit, the Child Tax Credit and the Additional Child Tax Credit. The Child Tax Credit is a credit that may reduce your tax by as much as $ 1,000 for each of your qualifying children. The Additional Child Tax Credit is a credit that you may be able to take if you are not able to claim the full amount of the Child Tax Credit. You may not qualify for the Child Tax Credit, but qualify for the Additional Child Tax Credit.

    Information You Will Need:

    Citizenship status, filing status, and information about your dependent children (i.e., ages)
    Basic income information and amounts for items such as tax liability and credits
    If you have been provided a Form 8332 (or similar statement) allowing you to claim the child as a dependent, you can consider that the child lived with you for more than half of the year. Keep this in mind when answering related questions during the interview.

    Estimated Completion Time: 15 minutes. However: 5 minutes of inactivity will end the interview and you will be forced to start over.

    The following interview covers the same questions you would answer if you called our toll-free tax assistance telephone number or if you came into a Taxpayer Assistance Center.

    Begin

    http://www.irs.gov/uac/Am-I-Eligible-for-the-Child-Tax-Credit%3F

    Hope that you find the above enclosed information useful. 11/26/2012

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  5. tro on Nov 27, 2012 Reply

    the child tax credit is a credit to reduce your income tax liability, it is not based on your earnings it is based on a dependent child in the household under age 17
    the amount of EIC you are eligible to claim is dependent on the amount of your earned income, and $ 1 is the least amount
    all the income from what you mention should be reported on Sch C and probably SE, this is earned income is the basis of your EIC
    any child tax credit not absorbed earlier is then available and additional child credit

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