Question by Russell: What is “making work pay credit?”?
I am using turbotax free federal efile to do my girlfriends taxes. I am using form 1040ez. If you look at line 8 it asks you about a “making work pay credit.” What is this and how do I know if my girlfriend qualifies for it?

Best answer:

Answer by the tax lady
Not a dependent.
Made to ,000 (phase out up to ,000).

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Question by boayunho: What exactly is the “Making Work Pay Tax Credit” and why did I qualify?
I just finished my taxes today and don’t quite understand why my refund was much larger than expected. I’m wondering if I filled out something incorrectly. What exactly is the “Making Work Pay Tax Credit”? Who qualifies for it?

Note: I worked a part-time job for one year and didn’t make a lot.

Best answer:

Answer by Judy
It’s money given to someone with income from working. It’s 6.2% of your earned income amount, with a maximum of 0 on a joint return or 0 otherwise.

If you’re a dependent you aren’t eligible.

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Question by Russell: How does the interest work on a “personal line of credit?”?
If you are approved for a “personal line of credit” from a bank or somewhere else, how does the interest rate work? Is the rate fixed or can it go up and down?

Best answer:

Answer by MVD34
Most of the time it is variable — it goes up and down: monthly, quarterly, yearly…

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