Which of the following individuals qualify for the 2008 earnedincome credit? a.

Question

Which of the following individuals qualify for the 2008 earnedincome credit?

a.     Kristy is single, 23 years of age, andhas no children. She earns $8,000.

b.     Kareem is single, 32 years of age, andhas no children. He earns $6,000.

c.      Carlos maintains a household for adependent 13-year-old daughter and qualifies for thehead-of-household filing status. Carlos’s income consists ofa $35,000 salary.

d.     Floyd and Grace are married, file ajoint return, and have two children. Their combined income consistsof salary of $14,000 and interest income of $50.

Explanation / Answer

You must be married and filing jointly, head of household,qualifying widow, or filing single.

You must have taxable income or earnings fromself-employment.

You, your spouse, and qualifying children must be UScitizens.

You, your spouse and qualifying children must have valid socialsecurity numbers.

You and your spouse must be at least 25 but not older than 65 atthe end of the tax year.

You must not be claimed as a dependent on anyone else’sreturn.

If you do not have any qualifying children your income must bebelow $12,800.00

If you have one child your income must be below $33,995.00

If you have two children then your income must be below$33,995.00

You must reside in the United States for at least half of thetax year.

You cannot claim this credit if you file using Forms 2555 or2555-EZ.

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