Individuals Without Children Are Eligible for the Earned Income Credit
Individuals without children are eligible for the earned income credit if they meet all the following conditions except
A)file married filing separately.
B)at tax year end are at least age 25 but not more than age 64.
C)for the tax year are not a dependent of another taxpayer.
D)the United States is their principal place of residence for more than one-half of the tax year.
A taxpayer will be ineligible for the earned income credit if he or she has disqualified investment income of more than $3,350 in 2014.Disqualified income includes all the following except
A)net capital gains.
C)net rental income.
Which one of the following is a refundable credit?
A)earned income credit
B)child and dependent care credit
C)lifetime learning credit
D)credit for the elderly and disabled
In 2014 Rita is divorced with one child.She has AGI of $19,500 resulting in a federal income tax liability of $250 and an earned income credit of $3,038.She has had $550 of federal income taxes withheld from her pay.Rita will receive a federal income refund of