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How long can I be claimed as a dependent on my parents tax returns?
Dependent on tax teturns
How much does being a dependent affect you on your tax return?
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.
How much will you owe in taxes if you made 56000 and single with one dependent?
Assuming that your dependent lives with you and is under age 17, and that you do not itemize: Adjusted gross income 56,000 -Exemptions (2) 7,000 -Standard deduction 8,000 (Head of Household) Taxable income 41,000 Tax 5,578 -Child tax credit 1,000 Total tax 4,578
How will a person who filed as a dependent get their 2007 tax rebate?
If you fled a return you can claim a refund. If you didn't file a return of your own and were a dependent on someone elses, then that person gets a larger refund based on their having filed jointly, head of household, etc.
Does a claimer of a dependent have to give money to the dependent from tax refund?
No. The money that the person gets back for the tax refund is kind of a repayment for things that they have already done to support the dependent. It isn't money that belongs to the dependent.
Can you claim head of household if your dependent was incarcerated?
Yes, you may still be able to claim head of household if your dependent was incarcerated if you provided more than half of the cost of keeping up a home for yourself and a qualifying person (such as another dependent) for more than half of the year. Be sure to consult with a tax professional or use tax software to accurately determine your eligibility.
Can you claim as a dependent on your California state income tax return a disabled non-relative housemate if you provide the majority of their care?
Yes. For California tax purposes, a Qualifying Person as a dependent is either a Qualifying Child or a Qualifying Relative. You can claim a non-relative housemate as a Qualifying Relative dependent on your California income tax return. The IRS allows you to claim Head of Household status for a non-relative Qualifying Relative.But blood relationship is required for Head of Household status on a California income tax return. So you might be able to file Head of Household on your federal tax return but your status would be Single on your California tax return.For more information on individual tax returns, go to the California Franchise Board website at www.ftb.ca.gov/individuals. You also can contact the Tax Board at 1-800-852-5711.
How long can I be claimed as a dependent on my parents tax returns?
Dependent on tax teturns
What is the difference between a qualifying widow and head of household for tax purposes?
A qualifying widow is a tax filing status available to a widow or widower for two years after their spouse's death, allowing them to use the same tax rates as married couples. Head of household is a tax filing status for unmarried individuals who provide a home for a dependent, offering lower tax rates than single filers.
How much does being a dependent affect you on your tax return?
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.
If a state is outside the continental US does that mean they can not have to pay state tax?
no that does not mean they can not pay state tax. There are many things that happen if a state is outside the continental us, but since it is a state, that means that it still has to pay state tax.
What is the difference between a qualifying widower and head of household for tax purposes?
A qualifying widower is a tax filing status available to a surviving spouse for two years after their spouse's death, allowing them to use the same tax benefits as married couples. Head of household is a tax filing status for unmarried individuals who provide a home for a dependent, offering higher standard deductions and lower tax rates compared to single filers.
What is the difference between a surviving spouse and a head of household when it comes to tax filing status?
The main difference between a surviving spouse and a head of household for tax filing status is that a surviving spouse can file as "married filing jointly" for the year their spouse passed away, while a head of household is a filing status for unmarried individuals who provide a home for a qualifying dependent.
How much will you owe in taxes if you made 56000 and single with one dependent?
Assuming that your dependent lives with you and is under age 17, and that you do not itemize: Adjusted gross income 56,000 -Exemptions (2) 7,000 -Standard deduction 8,000 (Head of Household) Taxable income 41,000 Tax 5,578 -Child tax credit 1,000 Total tax 4,578
How will a person who filed as a dependent get their 2007 tax rebate?
If you fled a return you can claim a refund. If you didn't file a return of your own and were a dependent on someone elses, then that person gets a larger refund based on their having filed jointly, head of household, etc.
Do I have to be claimed as a dependent in order to receive certain tax benefits?
No, you do not have to be claimed as a dependent to receive certain tax benefits.
What does head of household mean on tax form?
Head of household is a filing status on tax forms for individuals who are unmarried or considered unmarried for the tax year, have paid more than half the cost of keeping up a home, and have a qualifying dependent. This filing status typically offers more favorable tax rates and a higher standard deduction compared to filing as single.
