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Being a dependent of someone else for tax purposes decreases the amount of money you will get from the government. This mean you are not supplying the majority of your living expenses, someone else is and they should be able to use you as a dependent on their taxes.
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∙ 10y ago
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Can a dependent earn too much to be claimed on your tax return?
A "dependent" who supports themselves isn't really your dependent, and therefore can't be claimed as one.
How much is the dependent exemption on New York state tax return?
1,000
How much credit you get for having 1 dependent for taxes?
You will NOT know how much credit you will receive for 1 dependent until your 1040 federal income tax return is completed correctly and completely.
Married filing jointly claiming foster child on taxes how much for dependent?
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
How much money do you get back in taxes for being a college student?
There are other factors, such as how much you earned, whether someone can claim you as a dependent and how much money was withheld.
Can a dependent earn too much to be claimed on your tax return?
A "dependent" who supports themselves isn't really your dependent, and therefore can't be claimed as one.
How much is the dependent exemption on New York state tax return?
1,000
How much credit you get for having 1 dependent for taxes?
You will NOT know how much credit you will receive for 1 dependent until your 1040 federal income tax return is completed correctly and completely.
How much can a dependent earn before no longer being claimed as a dependent?
Generally if the dependent has gross income of $3,950 or more for 2014, they cannot be claimed as a dependent.
What is the type of limiting factor that does not affect small scattered populations very much?
Density-Dependent
How much do dependents get paid from someone in the army?
You don't get paid for being a dependent.
How much for each dependent claimed on w-2?
Each qualified dependent on your tax return can reduce your tax by as much as $3900 per person. Dependents can include parents, boyfriends or girlfriends or anyone your are supporting, not just children.
Does flu affect menstrual bleeding?
No, having the flue doesn't affect your menstrual bleeding. How much you bleed is primarily dependent on hormones and the uterine lining build-up throughout your cycle.
Married filing jointly claiming foster child on taxes how much for dependent?
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
How much money do you get back in taxes for being a college student?
There are other factors, such as how much you earned, whether someone can claim you as a dependent and how much money was withheld.
Do you have to claim income a dependent made?
Not on your income tax return. But the dependent may want to file the dependents own income tax return claiming the dependents income on it.The dependent cannot claim the dependent own exemption on the dependent own income tax return and will have to make sure that the dependent indicates on the dependent income tax return that the dependent is eligible to be claimed as a dependent on another taxpayers income tax return.Go to www.irs.gov and use the search box for Publication 17 (2009), Your Federal Income Tax for Individualshttp://www.irs.gov/publications/p17/index.htmlGo to chapter 3 Exemption thenYour Own ExemptionYou can take one exemption for yourself unless you can be claimed as a dependent by another taxpayer. If another taxpayer is entitled to claim you as a dependent, you cannot take an exemption for yourself even if the other taxpayer does not actually claim you as a dependent.Then Exemptions for DependentsDependent 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.I believe the above is only partly correct as to what your really asking.For example, if you have a child that has income (by employment, by inherritance, etc), even though you may list them as a dependent, that persons income is TAXABLE at your rate. (In other words, because the adult has reasonable income and pays tax at say 25%, if he shifts income to, or his child has income of an amount that presumably would be taxed much less (tax on 10K annually being virtually 0 %), essentially that income must be included as yours to get taxed at the higher rate.See the many publications on "Kiddie Tax".
How does unemploment affect your tax return?
Being unemployed you wouldn't have much income to declare so wouldn't have to or need to pay much tax for the year. If you became unemployed sometime during the financial year possible effects on your tax return would be items you were depreciating cant carry on being depreciated because you cant claim for things for work when you are not working. But really, not a lot is different you will just not have so much income to declare and thus may be eligible for low income offset etc.
