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Do both parents have the right to claim their children on their income taxes?
When parents are divorced, the use of the children's exemptions is generally determined by the decree. It has nothing to do with who pays for what. The parent with whom the children reside for over 50% of the year may claim Head of Household status. At no time may both parents claim the same children in the same year on separate income tax returns. http://www.irs.gov/pub/irs-pdf/p501.pdf
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No. My mother would not let me let you claim her on your income tax return. Even if I could claim my mother on my return I would not let you claim her on your return. My mothe…r will be claiming herself on her own return. Nice try though. If you are interested in possibly claiming your own mother on your own return, I would recommend reading the Form 1040 instructions for line 6c, step 4. In a nutshell, if your mother lived with you all year, had minimal income, and you provided over half her support, you may be eligible to claim your mother on your return.
What happens when both parents claim the same child in the same year on separate income tax returns?
this has happened to my husband for 10 years straight (as of this morning when we got our rejection email). If the second parent to claim the child e-files, they will get an… email from the IRS that their return has been rejected. They will then have to file via paper and snail mail, along with documentation that they are the one who gets that exemption. If the child lives with one parent more than the other, than that is the parent that can claim the child in the absence of any agreement otherwise. In my husband's divorce agreement, he is entitled to take the exemption EVERY year with no restrictions. But, every year his ex-wife files seemingly on January 1 and takes the deduction. We then have to file our return through the mail, and attach copies of his divorce agreement, and he gets the exemption. I don't know if his ex is being penalized. Honestly, she doesn't seem to be since she continues to do it year after year. My husband does eventually get the dependent claim that is rightfully his, but it takes a few months rather than a few days if his ex wasn't screwing around.
If the child lived with you for over 50% of the year (183 out of 365 days) then yes, you can claim the child as a dependent on your tax return, even if they don't live with yo…u now.
There are two types of dependents you can claim on your tax return. 1) "Qualifying child" A qualifying child must be a) under 19 at the end of the year OR b) under 24 at e…nd of the year and a fulltime student OR c) any age and permanently and totally disabled. A qualifying child must not provide more than half of his/her own support, but there is no limit on how much they may earn. 2) "Qualifying relative" If a child cannot qualify as a qualifying child because of age, they can still be a qualifying relative. A qualifying relative can be any age, but there are some more severe restrictions. You must provide more than half of the relative's support and the relative's gross income must be less than $3500. Please refer to the chart at the top of page 11 of Publication 501 for a complete list of qualifications: http://www.irs.gov/pub/irs-pdf/p501.pdf
Residential rent is not deductible. You can deduct any rent used for business purposes such as office rental, equipment rental, vehicle rental, etc.
Most likely not. The instruction booklet for filling out your tax forms goes into considerable detail about what criteria have to be met in order to claim someone as a depend…ent. If you meet those (and no one else is claiming you) then he may be able to. However, he can't claim you in the sense of married filing jointly unless you were actually married before midnight on December 31.
Supplemental security income (SSI) is different from Social Security benefits and is not reported on federal tax returns. See Sources and related links for more information.
if the income is of casual nature (less than $3,500) and no T4 slip is issued then the income can be reported on line 104. otherwise income has to be reported on business stat…ement T2125.
In the US, when another taxpayer is entitled to claim you as a dependent on their income tax return, you cannot take an exemption for yourself even if the other taxpayer does …not actually claim you as a dependent. Then Exemptions for Dependents Dependent not allowed a personal exemption. If you can claim an exemption for your dependent, the dependent cannot claim his or her own personal exemption on his or her own tax return. This is true even if you do not claim the dependent's exemption on your return or if the exemption will be reduced under the phaseout rule described under Phaseout of Exemptions, later. Go to the IRS gov web site and use the search box for Publication 17 (2009), Your Federal Income Tax for Individuals go to chapter 3 Exemptions You can click on the below related link
people that have more than 50% of your help like (income and living necessities). I think people that are not claiming themselves either.
Yes, if you are required to purchase uniforms to wear for your job, such as scrubs, there is a deduction you can claim on your income tax forms.
Can your ex-wife and her new husband legally claim your children on their taxes if she does not have a taxable income but he does?
Yes, if the couple is responsible for more than half of the financial support pertaining to the child/children. If the support amount is equal, it would be advisable for the …parents to try to find an equitable solution w/o involving the court.
What if your parents passed away and left money to the children is this counted as income on your taxes?
i think it is but when you file your taxes, meet with a tax advisor first and be sure If your parents protected their/your/the family's assets by establishing a Family Livin…g Trust and transferring all assets into the Family Trust, the assets are NOT subject to taxation. The Trust allows the Family assets to live on and continue to grow, protected for generations. YES, ONE SHOULD ALWAYS CONSULT WITH A QUALIFIED TAX CONSULTANT.
No. But they can't claim themselves if they file. No. But they can't claim themselves if they file.
What if your children and you live with your parents who are on social security can they claim us and file taxes?
If they do NOT have any other worldwide gross income to be reported on their 1040 income tax return it would not do them any good to file a tax return just to claim you and yo…ur children on their income tax return. But if they are required to file a tax return and all of the rules all met by them, you and your children to be their qualifying dependents on their income tax return this is possible. You cannot claim a married person who files a joint return as a dependent unless the joint income tax return is only a claim for refund and there would be no tax liability for either spouse on separate returns. You cannot claim a person as a dependent unless that person is a U.S. citizen, U.S. resident alien, U.S. national, or a resident of Canada or Mexico You cannot claim a person as a dependent unless that person is your qualifying child or qualifying relative. Qualifying child · The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them. · The child must be (a) under age 19 at the end of the year and younger than you (or your spouse, if filing jointly), (b) under age 24 at the end of the year, a full-time student, and younger than you (or your spouse, if filing jointly), or (c) any age if permanently and totally disabled. · The child must have lived with you for more than half of the year.2 · The child must not have provided more than half of his or her own support for the year. · The child is not filing a joint return for the year (unless that return is filed only as a claim for refund). · If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child. Qualifying relative dependent · The person cannot be your qualifying child or the qualifying child of any other taxpayer. · The person either (a) must be related to you in one of the ways listed under Relatives who do not have to live with you, or (b) must live with you all year as a member of your household2 (and your relationship must not violate local law). · The person's gross income for the year must be less than $3,650.3 · You must provide more than half of the person's total support for the year.4
Amounts you receive as workers' compensation for an occupational sickness or injury are fully exempt from tax if they are paid under a workers' compensation act or a statute i…n the nature of a workers' compensation act. The exemption also applies to your survivors. The exemption, however, does not apply to retirement plan benefits you receive based on your age, length of service, or prior contributions to the plan, even if you retired because of an occupational sickness or injury. If part of your workers' compensation reduces your social security or equivalent railroad retirement benefits received, that part is considered social security (or equivalent railroad retirement) benefits and may be taxable. For a discussion of the tax ability of these benefits, see Other Income under Miscellaneous Income, later. Go to IRS.gov and use the search box for Publication 525 (2009), Taxable and Nontaxable Income