Made no income but own home and have to claim a child have my mom living with me also
This is a 2 year old thread. But the answer is the same as it was 2 years ago. Without income earned from working you will not be able to get any child-related credits. Owning home or having your mother living with you will not change that.
For tax purposes, a child is the "Qualifying Child" of any close relative he lives with. not just his parent. So, if you and your mom lives with you, you can allow her to claim your child, instead of you.
If you did not work and earn any income, you cannot get the earned income credit. You only get that by WORKING and earning income.
Can I claim unearned income
Yes you can, and you are required to do so.
The money you hear about people getting for just filing a tax return claiming kids requires you to have some earned income (wages or self employment). Without earned income, you are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit.
If you are over age 23, and are not claimed as a dependent by someone else (e.g. your parent) you may be eligible for the up to $1000 refundable American Opportunity (tuition) Credit. That credit is not dependent on having either kids or earned income. You must be at least a half time undergraduate student and actually paid tuition (not just had it paid by grants). Tuition paid by loans counts as paid by you (since you have to pay that back, someday)
Can you still claim taxes on your kids of they live with you the majority of the time? I don’t have a job but I collect about 2,000 a month from my ex in child support. Other than that my Ex is responsible for most all the other expenses for the children.
@Chamier0528 wrote:
Can claim my child tax if I don’t work
If you did not work and did not have any other type of taxable income then there is no reason to file a tax return, with or without claiming dependents. You are not eligible for any type credits which are based on income from work, including the Child Tax Credit.
Q. Can claim my child tax credit if I don’t work?
A. Yes and no.
You can claim the child tax credit if you have other (non working) income and that income is enough to result in a tax liability. The child tax credit (CTC) is limited to your tax liability. The CTC is a non-refundable credit and can only reduce your income tax to 0, It cannot help you beyond eliminating your tax liability. But, if you have more than $2500 of earned income (from working), some or all of it is usually given back to you thru the "Additional Child tax credit".
The money you hear about people getting for just filing a tax return claiming kids requires them to have some earned income (wages or self employment). Without earned income, they are not eligible for the "refundable" Earned Income Credit or Additional Child Tax Credit. Both credits are calculated on the amount of earned income you have. No earned income means no "refund". A small amount of earned income means a small refund. The child tax credit does not "kick in" unless you have at least $2500 of earned income.
A child can be the “qualifying child” dependent of any close relative in the household. If you live with someone else, e.g. your parents, it may be better if they claim your child.
Instead, you could allow the non-custodial parent to claim the children. Non-custodial parents are allowed to claim the child tax credit, but not the Earned income credit.
If you are a student, over age 23, and are not claimed as a dependent by someone else (e.g. your parent) you may be eligible for the up to $1000 refundable American Opportunity (tuition) Credit. That credit is not dependent on having either kids or earned income. You must be at least a half time undergraduate student. There's even a loop hole available to claim the credit, if you are on scholarship.