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If I am a 501c3 tax exempt organization bringing in about…

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If I am a 501c3...
If I am a 501c3 tax exempt organization bringing in about $50,000 this year....am I able to file a personal tax return and qualify my daughter for an earned income tax credit even though I don't pay taxes (tax exempt).
Submitted: 2 years ago.Category: Tax
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Answered in 9 minutes by:
1/18/2016
Tax Professional: emc011075, Tax adviser replied 2 years ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,790
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

To qualify for earned income credit you don't need to have taxable income as long as you have earned income, like job or self-employment. 501c3 is a corporate entity. So how is the income reported to you?

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Customer reply replied 2 years ago
What do you mean, "how is the income reported to you?"
Customer reply replied 2 years ago
Do you mean, for example...on a 1040?
Tax Professional: emc011075, Tax adviser replied 2 years ago

Ok. Earned income credit is claimed by individuals, not by corporation or organization. To qualify for earned income credit you need to have earned income like w2 or profit from a business. Do you have earned income?

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Tax Professional: emc011075, Tax adviser replied 2 years ago

You have 501c3 organization but you are not the organization. You file 990 for the nonprofit organization and 1040 for your individual taxes. So the question is, what type of income do you report on your 1040?

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