All of the rules for you and the child have to be met that would allow you to be able to claim an individual as a qualifying child (QC) dependent on your income tax form.
For all of the rules go to the IRS.gov web site and use the search box for PUBLICATION 17 go to chapter 3. Personal Exemptions and Dependents
Qualifying Child
There are six tests that must be met for a child to be your qualifying child.
The six tests are
1 Relationship
2 Age
3 Residency
4 Support
5 Joint return, and
6 Special test for qualifying child of more than one person.
These tests are explained next.
Table 3-1 Overview of the Rules for Claiming an Exemption for a Dependent
Yes as long he and you meet the qualifications for you claim him as your qualifying child dependent on your income tax return. He would have to file his own income tax return reporting his own income and he would not be able to claim himself for exemption amount on his own income tax return.
Yes
No Yes, you just cannot claim yourself as a deduction.
Yes...presuming they meet all the other dependency tests. The student cannot then claim a dedcution alos, although one isn't needed in this casse.
People with children, foster or biological, can claim them as dependents which offers a substantial tax advantage, however they do still have to file their income tax return.
Yes as long he and you meet the qualifications for you claim him as your qualifying child dependent on your income tax return. He would have to file his own income tax return reporting his own income and he would not be able to claim himself for exemption amount on his own income tax return.
Yes, it is still income, regardless of your expense. You should, however, be able to claim the shortfall as a tax write-off.
My child was in the Job Corps last year, can I still claim him on my federal income taxes as a dependant?
It's typically not within a parent's direct control to have a 17-year-old locked up. In most cases, legal action like involving law enforcement, seeking assistance from social services, or obtaining a court order would be required for such measures. It's important to consider alternatives like seeking counseling or guidance first.
Yes
No Yes, you just cannot claim yourself as a deduction.
Not if your still holding stock. After you sell it you can claim your profits or losses.
If your under 23 and your parents or guardian provide more than 50% of your income than your still a dependent. Even if this criteria is meet you can still claim yourself a independent.
As a dependent on another taxpayers income tax return you would not be qualified to claim the education benefits.
Sure. The fact that you were incarcerated does not exempt you from filing income taxes and paying tax on your income. It does prevent you from claiming many of the tax credits such as Earned Income Credit, Child Tax Credit as you cannot claim that you supported your children or that they lived with you during this time.
no you have to make a claim for it to be regestered as a claim
Yes...presuming they meet all the other dependency tests. The student cannot then claim a dedcution alos, although one isn't needed in this casse.