Yeah, unemployment is considered ‘unearned’ (rather than earned) income, so it wouldn’t qualify.
BUT, the democrats are trying to get unemployment included, so keep checking.
I am on SSDI, which is considered ‘earned’ income, and don’t pay tax on it, so I get $300.
I was under the impression that SSDI is only for ppl under 65. In fact, I just read this:
When an individual reaches full retirement age, generally at age 65, he or she enrolls in the Social Security retirement program instead of SSDI.
So, since you said you were ‘elderly’-over 65-you probably don’t get SSDI.
Here’s some info from ABC QA:
Q: Senior citizens, retirees who can no longer work, on limited incomes. Is nothing being done for seniors?
A: retirees would qualify for the rebates to the extent they pay taxes on pensions, investment income, Social Security and other sources of income. They would not qualify under the current proposal if their adjusted gross income is so low that they pay no federal income tax at all and their earned income in 2007 was less than $3,000.

Earned income includes money earned on the job or in a business. According to the IRS, it also includes union strike benefits, long-term disability benefits received prior to retirement age and any nontaxable combat pay received by military personnel.

Pattie

Here is the latest:

Democratic and Republican congressional leaders completed a deal Thursday with the White House on an economic stimulus package that would give most tax filers refunds of $600 to $1,200.

Under the plan, individuals who pay income taxes would get up to $600, working couples $1,200 and those couples with children an additional $300 per child under the deal. Workers who make at least $3,000 but don’t pay taxes would get $300 rebates. The rebates would be limited to individuals whose income is $75,000 or less and working couples with incomes $150,000 or less.

Senate Majority Leader Harry Reid said the goal is to send the package to the White House by Feb. 15 for Mr. Bush’s signature.

You don’t get a W-2 from unemployment, you get a 1099.

Unemployment isn’t considered earned income it is like insurance money. Since you paid the premiums, it isn’t generally taxable income for state or federal purposes.

As far as the SSDI? That is counted as earnings, so this may qualify you for the rebate.

Keep in mind this thing is still waiting for approval.

Things haven’t been decided for sure yet. The details are still being worked out. They are trying to move quickly, so there will be more information out soon.

NO ONE knows yet as it’s all TALK