As a dependent on another taxpayers income tax return you would not be qualified to claim the education benefits.
Check irs.gov. It probably depends on whether she is still a full time student and is your dependent.
There are typically two sections, credit hours enrolled, and credits hours earned. In other words, a student can enroll for 15 credits (usually five courses at three credits each), but fail one course. Thus, 15 credits enrolled for, but only 12 credits earned and able to be applied toward graduation requirements.
EIC is a refundable credit.
Yes it is.
A GPA is a students grade point average, calculated on the grades received for each course. There is a semester GPA, and a cumulative (total) GPA. Earned credit hours are the amount of credits completed successfully (D or higher). Just remember a D is a minimum pass and can bring our GPA below a 2.0 (C) average which could lead to dismissal. In addition, D grades will not transfer to other colleges and universities. The GPA is calculated by adding up the total quality points and dividing that number by the number of credits completed. Each grade is assigned a number of quality points. For example, A = 12 quality points, B+ = 10.5, B=9, etc..
Unemployment benefits are not "earned income", so you should not be eligible for earned income credit.
All earnings and revenues has credit balance as normal balance so interest earned also has credit balance as default normal balance.
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
The child tax credit is a tax benefit for parents with dependent children, providing a credit for each child. The earned income credit is a tax benefit for low to moderate-income individuals and families who have earned income from work. The main difference is that the child tax credit is based on the number of children, while the earned income credit is based on income and family size.
NO, cash is money you have and probably earned....credit cards are monies not earned by you, hence an unsecured loan.
The IRS government site has an earned income tax credit table. Also, Turbo Tax has a good earned income credit table. Turbo Tax will ask questions that will help one determine if they qualify for a credit. Then, one can use their income credit table to see how much credit they can claim.
No. The earned income tax credit is a credit received by some based on their income and lawful dependent children. It is not a deduction of any kind.