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I'm not sure what the question is asking, but I'm going to assume you are asking what qualifies a person to claim the exemption. Simply put, as far as the IRS is concerned, you can claim the child for Federal Income Tax purposes if you had physical custody of the child 51% of the time. That means 183 days. This qualifies you for Earned Income Credit, Head of Household status, Child Tax Credit, and the exemption (which just lowers you claimable income). If you sign your exemption away to a non-custodial parent (you would need form 8332 to do this), you can still take the EIC and the HoH status. The NC would be able to take the Child Tax Credit and the exemption.
What else can I help you with?
How much is the exemption for a new baby on your income tax refund?
For a qualifying child dependency exemption the amount is 3650 for each exemption for the year 2009
What does federal exemption mean on state taxes?
Federal exemption is the right to claim a qualifying minor for the child tax credit and child exemption against your income. It may also qualify you for the Earned Income Credit and Head of Household status, IF the child lived with you 51% of the year.
Can you claim your child if they file taxes too?
Yes as long as all of the rules are met by and the child to be your qualifying child dependent on your income tax return. 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. Make sure that the dependent indicates on the 1040 income tax return that him/her is using indicates this and cannot claim the 3650 exemption amount on the income tax return that is being filed.
If your child has a job can you claim them on your income tax?
Yes as long as you and your child meet all of the rules for you to be able to claim your child as a qualified child dependent on your 1040 income tax return. You child will file the child's own 1040 income tax return and will have to make sure and check the box that says they can be claimed as a dependent on another taxpayers income tax return and the child will get the 3650 exemption on the child's own income tax return. The number of exemptions will be -0- zero WHEN the 1040 income tax return is completely correctly.
Does being 16 and in full time education and working affect the family tax credit?
This should not have any affect on your parents income tax return if you are still their qualifying child dependent on their 1040 income tax return. And of course you do know that if your are their qualifying child dependent that you can NOT claim your self on your own income tax return for the exemption amount when your income tax return is completely correctly.
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.
What if your son is 17 and working can you still claim him and his income on your 2009 income tax?
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.
How much money do you get per kid on your income tax this year?
The exemption amount for each qualifying child or qualifying relative dependent is $3,650 for each exemption. You can also deduct $3,650 for yourself.
Why cant divorced parents file for the same kid in taxes and how would the government know?
Only one qualifying child dependent exemption each year for one child. The social security number that is on the 1040 tax form will identify the duplicated child exemption on the taxpayers 1040 income tax returns.
Can you take an income tax exemption on tuition?
Not as an exemption on your income tax return. There is a variety of tax credits, deductions and savings plans available to taxpayers to assist with the expense of higher education. For more information, go to irs.gov.
What is a statutory exemption?
An exemption is something that is excluded. In taxes, there are various tax exemptions and types of income that are exempt from tax. There are also certain types of organizations that are exempt from tax.
Does a qualifying child and a qualifying relative get the same benefits on income tax?
Yes, a qualifying relative and qualifying child are both dependency exemptions and will give you the same tax benefits. The dependency exemption for 2009 is $3,650.
