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How much money will you receive for a one-year-old dependent when you file your taxes?
Wiki User
∙ 14y ago
Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.
Wiki User
∙ 14y ago
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Is a dependent child who is a student required to pay taxes on monthly income they receive from their parents?
No. The money that your parents send you for educational and personal needs has already been subject to taxation.
Can you file taxes with the money you receive from welfare?
yes
If you receive money as a gift from your parents do you have to pay taxes on it?
No.
I am receiving a check in amount of 14,000.00 from my employer. I only claim one dependent. How much can I expect to receive after taxes are taken out?
I am receiving a check in amount of 14,000.00 from my employer. I only claim one dependent. How much can I expect to receive after taxes are taken out?” Topics: Hr Block
Does your daughter have to file her taxes if you can claim her as a dependent?
Yes, she does - if she is employed and earning her own money.
Is a dependent child who is a student required to pay taxes on monthly income they receive from their parents?
No. The money that your parents send you for educational and personal needs has already been subject to taxation.
Can you file taxes with the money you receive from welfare?
yes
If you receive money as a gift from your parents do you have to pay taxes on it?
No.
Why does the state government receive all of their money from the federal government?
The state governments do not receive all their money from the Federal government. The majority of their funds come from state income taxes, property taxes and sales taxes.
How much money should you get if you give your baby as dependent to another person to file taxes?
$3500 is the exemption for each dependent. $1000 is the child tax credit for kids under age 17. For kids under 17 that are your dependents you qualify for both the exemption and the credit. Note: Only the person filing the child as a dependent will receive the money.
How did central government receive money?
other states
I am receiving a check in amount of 14,000.00 from my employer. I only claim one dependent. How much can I expect to receive after taxes are taken out?
I am receiving a check in amount of 14,000.00 from my employer. I only claim one dependent. How much can I expect to receive after taxes are taken out?” Topics: Hr Block
Does your daughter have to file her taxes if you can claim her as a dependent?
Yes, she does - if she is employed and earning her own money.
How much do you get back on taxes for claiming another person?
An individual claiming another individual as a dependent on their taxes will receive a tax deduction of $3300. The amount that the individual will get back as a tax refund will be dependent upon the income of the taxpayer.
When you file your taxes, you will receive a ________ if more money was withheld from your paycheck than you needed to pay in taxes?
Refund
How does the government receive funds?
The Government gets their money from all of us paying our taxes, such as carbon taxes.
How much can you inherit in oregon without paying taxes on it?
It depends on the will and who is inheriting the money. A spouse can receive the entire estate with no taxes.
