to further clarify my question of filing taxes and claiming interest payments.
I don't file taxes at all every year except a year ago when we got our money bonus of $300.00. I also qualified for EIC. Otherwise I was told by SSA that since I don't earn any money (only get social security) and that is not taxed, that I don't need to file. Is all the interest I'm paying going down the drain, do I have any recourse? Thanks to all who answered my first question.
Best Answer
2222 points
readytoretire answered 9 months ago …
Per the IRS website, you don't qualify for EIC as you don't have any earned income. So your interest isn't deductible, as you owe no tax to deduct against.
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356 points
Dusty answered 9 months ago …
There are two things you can do, either or both:
Call up irs.gov and order whatever booklets might seem to relate to your situation. There are no fees or charges.
Use the telephone numbers from irs.gov and make a telephone call to find out whatever the advisor can tell you. This service is free.
