jklcpa Posted March 18, 2008 Report Posted March 18, 2008 Grad student in medicine, age 27, single, claims own exemption & no one else can claim her. Tuition of $32K+ is paid by student loans each year. Lives on her own, but parents obviously give her $$ to help with living expenses. 2007 return: Wages $8,712 Divs 10 Tuition deduction: ( 4,000) AGI 4,722 Std ded ( 5,350) Exemption ( 3,400) Taxable income 0 She was 26 last year, return showed very similar $$. Previous preparer didn't take EIC. So this has me doubting EIC calcs on this return I'm doing are correct. ATX is coming up with EIC of $296. It looks to me like she is allowed this. Could someone who is comfortable with EIC please confirm? Thanks for any help. Quote
Pacun Posted March 18, 2008 Report Posted March 18, 2008 Grad student in medicine, age 27, single, claims own exemption & no one else can claim her. Tuition of $32K+ is paid by student loans each year. Lives on her own, but parents obviously give her $$ to help with living expenses. 2007 return: Wages $8,712 Divs 10 Tuition deduction: ( 4,000) AGI 4,722 Std ded ( 5,350) Exemption ( 3,400) Taxable income 0 She was 26 last year, return showed very similar $$. Previous preparer didn't take EIC. So this has me doubting EIC calcs on this return I'm doing are correct. ATX is coming up with EIC of $296. It looks to me like she is allowed this. Could someone who is comfortable with EIC please confirm? Thanks for any help. ANY program will not calculate EIC if date of birth is not entered. So, I believe previous preparer didn't enter her correct date of birth. You are correct, take the credit. ALSO, being 27 now means nothing regarding previous year. Give date of birth so we can assist properly if you want to amend. Quote
Janitor Bob Posted March 18, 2008 Report Posted March 18, 2008 Grad student in medicine, age 27, single, claims own exemption & no one else can claim her. Tuition of $32K+ is paid by student loans each year. Lives on her own, but parents obviously give her $$ to help with living expenses. 2007 return: Wages $8,712 Divs 10 Tuition deduction: ( 4,000) AGI 4,722 Std ded ( 5,350) Exemption ( 3,400) Taxable income 0 She was 26 last year, return showed very similar $$. Previous preparer didn't take EIC. So this has me doubting EIC calcs on this return I'm doing are correct. ATX is coming up with EIC of $296. It looks to me like she is allowed this. Could someone who is comfortable with EIC please confirm? Thanks for any help. Based on your information, I see no reason not to take EIC....and I would amend last year and claim it as well. Quote
Pacun Posted March 18, 2008 Report Posted March 18, 2008 Based on your information, I see no reason not to take EIC....and I would amend last year and claim it as well. Please verify date of birth as stated on my previous amended posting. Quote
jklcpa Posted March 18, 2008 Author Report Posted March 18, 2008 DOB is Jan 21, 1981. Dad brought info to me & hesitated on DOB, so I even confirmed with Mom And thanks for the responses. Does amending to claim EIC raise red flags? Seems pretty clear cut, but you know, when things just seem too easy ... I just didn't want to fall into any traps! Quote
Pacun Posted March 18, 2008 Report Posted March 18, 2008 DOB is Jan 21, 2981. Dad brought info to me & hesitated on DOB, so I even confirmed with Mom And thanks for the responses. Does amending to claim EIC raise red flags? Seems pretty clear cut, but you know, when things just seem too easy ... I just didn't want to fall into any traps! It seems a pretty straight forward return so amending shouldn't be a problem. She should get EIC for both years if salary is low and no one claimed her. Quote
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