Get Form DTF-215:5/12:Earned Income Tax Credit, Recordkeeping Suggestions For Self-employed

Valid driver's license or photo identification for both you and your spouse (if married). Social security cards, a social security number verification letter for all persons listed on the return. Birth dates for all persons listed on return. Copies of last year's state and federal tax returns if you have them.

Yes, if you are self-employed you can also claim this credit, assuming you meet the other Earned Income Tax Credit criteria outlined above. The IRS considers all earned income as being eligible for this credit and this includes that received from self-employment.

Eligible self-employed individuals are allowed a credit against their federal income taxes for any taxable year equal to their "qualified sick leave equivalent amount" or "qualified family leave equivalent amount."

Your self-employment income, minus expenses, counts as earned income for the Earned Income Credit (EIC). You must claim all deductions allowed and resulting from your business. This determines your net self-employment income.

For the year you are filing, earned income includes all income from employment, but only if it is includable in gross income. Examples of earned income are: wages; salaries; tips; and other taxable employee compensation. Earned income also includes net earnings from self-employment.

The Earned Income Tax Credit (EITC) is a tax credit that may give you money back at tax time or lower the federal taxes you owe. You can claim the credit whether you're single or married, or have children or not. The main requirement is that you must earn money from a job.

To qualify, all the following conditions must be met: You must have earned income in the past tax year (both your spouse and you if you are filing together). You must be the child's (or dependent's) custodial parent or caretaker. You must either work and earn an income, or actively be looking for employment.

California EITC requires filing of your state return (form 540 2EZ or 540) and having earned income reported on a W-2 form (i.e. wages, salaries, and tips) subject to California withholding. Self-employment income cannot be used to qualify for state credit.