• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

401K min. or not?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

4

45Frank

Member
What is the name of your state? NC
I have had no income for two plus years now. I did turn in a 401K from a previous employer. Will this count as income for me to qualify for EIC of my two children, Is it actually income and they did take tax's out of it. Also is there a minimum you must make to qualify for EIC. Also I am considered disabled by SS I don't know if that matters or not.
Thanks
 


ShyCat

ShyCat

Senior Member
No, it is not considered "earned income" so it would not qualify you for the EIC. A 401(k) distribution will be reported as just that, on a 1099-R. Earned income would be reported on a W-2 or 1099-MISC.
 
You must log in or register to reply here.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top