Question

File taxes with Notice 2014-7

Forum|Forum|2 years ago
March 24, 2024
1 reply
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I quit my job in Dec. 2022 and became my wife's full time caregiver with Notice 2014-7. I do not have a W2 or 1099. No Social security or medicare taxes were taken out of my wages. I have 2 children that I am trying claim the EITC for. I was told that I can still claim the credit even without the W2 or 1099. Even though I am exempt from Federal state taxes, how do I file to claim the EITC?

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J

JamesG1

In TurboTax Online, report Notice 2014-7 income qualifying for the Earned Income Tax Credit by following these steps:

Down the left side of the screen, click Federal.
Down the left side of the screen, click Wages & Income.
Scroll down to Less Common Income and click on the dropdown menu.
To the right of Miscellaneous Income, 1099-A, 1099-C, click the Start / Revisit button.
To the right of Other income not already reported on a form W-2 or form 1099, click the Start / Revisit button.
At the screen Any Other Taxable Income, click Yes.
At the screen Certain nontaxable Medicaid waiver payments not reported on Form W-2 or 1099, enter the amount.
Click Continue.

The entry will be reported IRS form 1040, line 1 and the income will be counted towards the Earned Income Tax Credit.

Qualify for the Earned Income Tax Credit by following these steps:

Down the left side of the screen, click Deductions & Credits.
Scroll down to You and Your Family, click the down arrow to the right.
Click Start/Revisit to the right of Earned Income Tax Credit.
Assuming you meet the other qualifications for the tax credit, at the screen Let's check if you can get a bigger credit, click Yes at the question Do you want to add your Medicaid waiver payment to your income for this credit?