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Old 02-07-2008, 07:14:40 AM   #41
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Default Re: Tax Questions - 2007 - post them here!!!

thank you...i think i kinda almost sorta get it....pretty much the irs says "here have this" to some people and not to others for the stimulus rebate? because i didnt get one in2001, even though i had kids and worked


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Old 02-07-2008, 09:48:51 AM   #42
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Default Re: Tax Questions - 2007 - post them here!!!

Originally Posted by latte View Post
as long as you provided her support for more then half the year then yes you can claim her
Hmmmm.... thanks for the info! I'll have to sit down and divvy up the expenses... he pays child care and her tuition, I pay for everything else, including clothes, food, etc. I don't ask for child support since he's paying for all her childcare and education.
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Old 02-07-2008, 08:37:47 PM   #43
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Default Re: Tax Questions - 2007 - post them here!!!

Does anyone know anything EIC ? We had entered all but 1 of our W-2s while DH was getting the last one together. It said our EIC would be $1900. We entered the last W-2, which was for about $8K with $1200 paid in taxes. It took our income to around $32K, but it dropped our EIC $1400 down to just $554!! We paid taxes out the butt on that last W-2, but it made the EIC drop dramatically. Is it because our income moved to a higher bracket or something?
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Old 02-07-2008, 10:40:44 PM   #44
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Default Re: Tax Questions - 2007 - post them here!!!

Yeah, that would be about right. I'm assuming married filing jointly, one child? The more you make in income, the less the EIC is. Make sure you take the child tax credit and you may be able to take the additional child tax credit.

$24000 to $25000 runs from $1792 to $1641. $32,000 to $33,000 runs from $514 to $362.

$35,000 is the cutoff for getting anything. You're getting close to the cutoff point.
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Old 02-08-2008, 08:46:44 AM   #45
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Default Re: Tax Questions - 2007 - post them here!!!

Originally Posted by Merczilla View Post
Yeah, that would be about right. I'm assuming married filing jointly, one child? The more you make in income, the less the EIC is. Make sure you take the child tax credit and you may be able to take the additional child tax credit.

$24000 to $25000 runs from $1792 to $1641. $32,000 to $33,000 runs from $514 to $362.

$35,000 is the cutoff for getting anything. You're getting close to the cutoff point.
Thanks. That makes sense. It was just disappointing to see the refund amount suddenly drop by $1400. I know I should just be thankful we are getting it!
I told my DH that I would rather have the 8K from that W-2 then the $1400 in EIC though.
The 32-33K is all we made though, so I bet we won't get any EIC next year (hopefully, though. It would be good because it means my DH's new job will be paying off!)
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