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What else can I help you with?
Income tax exemption for a child?
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.
Who can claim child exemption on tax return if divorced in Wyoming?
Even though I am in Utah, Federal law applies to this situation. As far as the IRS is concerned, the person who has physical custody of the child 51% of the time can claim the exemption. The custodial parent (CP) can sign over the exemption to the non-custodial parent (NCP) by signing form 8332. If they do that this only qualifies the NCP for the Child Tax Credit and the exemption (which lowers taxable income). The CP can still take the EIC and Head of Household status. You also need to check in your divorce decree if this is addressed. However, IRS just passed Federal Regulations on July 4, 2008 that specifically state that a state court may NOT allocate the dependency exemption because it is Federal law, NOT state law that determines this. Federal law trumps state law when there is a conflict of which law governs. This new regulation also give the CP the right to unilaterally revoke the release of the exemption at any time even if the CP has already signed it away for future years.
Can two people claim head of household?
I assume you are talking about an unmarried couple living together who have a child or children living with them, who meet all the requirements for Head of household (HOH) and the dependency exemption. Yes, they could potentially both file as HOH, but only if they each have a qualifying child who lives with them and all other tests are met. So if you only have one child living with you, than only one qualifies for HOH. If there are two children living with you, than you can each claim one of the children for HOH purposes and for the dependency exemption.
What level of income qualifies for subsidized apartments?
It reall y depends on the state and the household size.
A household consists of a married couple their twin three-year-old sons and their twin eight-year-old daughters. The couple's children had no income and lived with their parents all of last year. How?
ITs 6 for apex
Is there capital gain exemption on vacant land?
Yes, if the land was adjacent to your main home and was considered part of your home any gain on the sale of the land qualifies for the exemption under IRS rules. For example, if you buy a farm with a home and 40 acres, and 12 years later you sell off 36 of the 40 acres but keep the home and four acres, the sale of the land qualifies for the exemption because it was part of your main home. If you also sell the main home within two years, then the gain on both sales will need to be combined to determine whether or not the exemption has been exceeded. See IRS Publication 523.
Can a property held in a Revocable Living Trust qualify for the Florida homestead exemption?
While I am not a Florida attorney, the general rule is that including property in a Revocable Living Trust does not change the ownership for purposes of a homestead exemption. Because such a trust is revocable at any time, it is still considered your property and therefore still qualifies for a homestead exemption.
Is a claimed dependent an exemption or a deduction?
Both. A taxpayer (the person who can claim the dependent) claims exemptions for themselves and their dependents. Each exemption qualifies them for a deduction. The amount changes each year ($3,700 per exemption for 2011) and a person will multiply the number of exemptions on Form 1040 line 6 by the amount for their total deduction on Form 1040 line 42. The deduction for exemptions reduces their taxable income.
Can wages be garnishing in the state of Pennsylvania for unpaid credt cards?
No. As long as the person qualifies as Head of Household creditors cannot execute a writ of garnishment.
What is the process for an IRB exempt review for this study?
The process for an IRB exempt review involves submitting a request to the Institutional Review Board (IRB) detailing why the study qualifies for exemption based on specific criteria outlined in federal regulations. The IRB will review the request to determine if the study meets the criteria for exemption, such as minimal risk to participants or the use of existing data. If the IRB approves the exemption, the study can proceed without the need for a full review.
Can a 15-year-old with a hardship permit drive to school and work?
Most hardship permits are issued with certain stated restrictions. The permit holder must call or contact his local DMV to ask if he qualifies for this exemption.
Can you and your adult child both claim head of household?
No whoever qualifies along with the higher income can claim that credit. There can only be 1 head of houshold per home....
