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If the income resulted from property or an investment before the marriage occurred. Inheritances are considered separate property regardless of when they were conferred.

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19y ago

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Can I get the Earned Income tax credit if I file Married Filing Separately?

The Earned Income Credit can't be claimed if you file Married Filing Separately.It can be claimed by all other filing status (Single, Married Filing Jointly, Head of Household, Qualifying Widow/er).For more information, go to www.irs.gov/taxtopics for Topic 601 (Earned Income Credit). Also go to www.irs.gov/formspubs for Publication 596 (Earned Income Credit).


Is salary an earned income?

Yes any income that you work for would be earned income.


Is annuity income earned income?

No, earned income has to come from wages or self-employment.


Can you get earned income back if you are on workerscomp?

NO workers compensation for an on the job injury is not qualified taxable earned income for the earned income credit.


What is the difference between earned income and ordinary income?

Earned income refers to money earned through active work, such as wages or salaries. Ordinary income includes all types of income, including earned income, interest, dividends, and capital gains.


What portion of total income earned by Americans is unearned income or income other than earned income?

Mmhg


Can a husband and wife file income tax separately?

Yes, a husband and wife can choose to file their income taxes separately if they meet certain criteria.


Can you receive tax refund if you have no income?

no you may not If you have no earned income, you would not qualify for the earned income credit.


Can you open a Roth IRA if your income is not high enough to be taxed?

YES You Can! When you have earned income, and your MAGI is less than - $166,000 (married filing jointly filers) - $114,000 (single and head of household filer) - $10,000 (married filing separately) You can contribute the lesser of your earned income or $5,000 for 2008. For more information about IRAs see IRS Pub 590, Individual Retirement Arrangements.


What is assessable income?

Income earned


You only received unemployment for 2009 will you be eligible for earned income credit?

Unemployment benefits are not "earned income", so you should not be eligible for earned income credit.


Is rental income earned income?

Earned income comes from wages or self-employment. The IRS considers rental income as passive (not from work.)

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