Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Taxes
Finance Discussion Forum

 Does an 11 year old have to file taxes?
My daughter just started a paper route and will be making about $400 a month....


 What level are you now?
...


 Can my husband claim my son who is not his own on his taxes?
hi, so my husband and I have been married going on two years now, i have a son who will be three and we together just had another baby now 7mo. i am currently a stay at home mom with my two children, ...


 Claiming a child that was born 12-7-07?
Can I claim my baby that was born 12-7-07 on taxes? Also where can I find information about claiming my baby that was born on 12-7-07 on taxes?...


 If My Mother Transfers Her $125,000 House to Me Will I Have to Pay Capital Gains Taxes When the House is Sold?
My mother is elderly and thinking about transferring the title of her house to me.

She bought it decades ago for $25,000.

I do not live with her.

If I later sell the ...


 Can Anyone Transfer This Army Time Into Regular Time? 17:59?
...


 Do you find it funny that I'm scrounging your taxes?
I'm on the dole, are you glad to give me money because I'm too lazy to get a job?
Additional Details
Nicole - I love you

Carly - you spend that much on make up? J...


 Do you have to claim child support payment on your taxes?
My grandma says no and my fiance and his sister say yes.

Which is it? Do you have a website to back up your claim??

Thanks,
Belinda
Additional Details
Oh, I ...


 How does council tax work when students (who are exempt) live with working professionals (who arent)?
I am a full time student, which means I am exempt from paying council tax, but I am about to rent a house with two of my friends who are both working full time.
When working out rent they ...


 Has anyone used the irs site for tax rebate? I tried but it keeps saying i made a mistake. i put correct info.

Additional Details
I CHECKED MY W2 PUT THE CORRECT EXEMPTIONS CORRECT SS CORECT FILING STATUS!...


 Can my boyfriend claim my child on his taxes?
My boyfriend and I have lived together for 4 years. I have 3 children from a previous relationship and my boyfriend has no children. I do not receive any child support from my kids biological father. ...


 Maybe im naive (ok.. i am haha) but.. i have NO IDEA about taxes.. help?
I am a single female.. and i have had two jobs this year.. one making about 38,000.. one making 45,000... I claimed 1 for my taxes.

I know.. i should have a better idea of finances but im ...


 Has anyone gotten there tax return back today that was done by H&R block?
i was just wondering because i was told i would be notified by text message and wanted to know if anyone has done this and received their return?...


 Husband hasn't filed his taxes in years?!!?
I checked the mail to day to find out my husband hasn't filed is taxes in years. 2002,2003,2004,2006 What is going to happen to us? We have 30 days to file but once we do won't we have to ...


 It's May 2nd and I did not receive my tax stimulus refund !!!!!!!!!!!!!!!!!!!!!!!!!... HELP?
Hi, I was supposed to be one of the lucky ones on that first schedule but I have not received anything yet as of 11:40. They said the payments would come in for that schedule May 2nd at the latest. ...


 Tv licence pleaaaaaase answer!!!!????????
please answer am i better of buying a £135 year one????? cos it works out @ 22.5 per month for only 6 month!!??? if i jpoin up for a card cash scheme and they send it out in 7-10 days will that ...


 HOW much of your pay check do you give to charities?
I think its over 15% for me.
Additional Details
YOU know a penny given from the heart is worth more then a All the Gold in TEXAS ....


 Ive been over paid at work?
In last months wages I was overpaid by about £750 before tax.
My employer is now asking for over £500 back by cheque or they say it will be deducted from my next months wages in one hit! No ...


 This may seem like a stupid question, but how could somebody born and raised in this state have a wrong ss#?
I work in a job where all my patients/clients SS number is posted on their record. SS numbers vary by state and region. For example in the state I now live in, Louisisana, everybody's SS number ...


 If a bedroom set costs $2,500 and sales tax is 7%, how much money will go to pay the tax?
...



mrniceguy
Can I legally be claimed as a dependent?
I am 22 and live with my parents and am also a full time student. I made $14,000 last year. My parents pay for my college witch is no more then $5000 a year. and my car insurence along with health insurence threw my dads company. My dad is trying to claim me as a dependent since I live in his house so I am unable to due so on my own taxes. Is that legal for him to do?
Additional Details
i just double checked it was $3000 for school and they do not provide food. just school, car insurcne and health insurence and a place for me to live.
                     
 




Audrey A
There are three main tests for a child dependent
1) they must have lived with you at least 6 months out of the year
2) They must be younger than 19 (or 24 if in school full time)
3) They cannot have provided more than 50% of their OWN support.

It sounds as if you passed the first 2 tests, but the 3rd is iffy. Support is things like food, rent, schooling, clothing, etc. Support is not things like movies, cell phones, and other entertainment. If your parents provide room & board, your insurance and pay for school, it sounds as if they are still able to claim you as a dependent.

Remember, when they are no longer able to claim you as a dependent, you will loose your health insurance through them.


mikeeyman
Yes... He is supporting you more than 50%.... You probably have free rent... And they are probably providing you food on top of that. In addition to the stuff above.


bostonianinmo
Rating
Only Audrey and Judy have answered your question correctly.

To all of those who say that the parents must pay more than half of the support -- you are at least 3 years out of date now. The law was changed for tax years 2005 and later. The support rule is now this: The child must not provide more than half of their OWN support. The amount that the parents provide is IRRELEVANT to the support test for a Qualifying Child.

Please read IRS Pub 501, folks, before you shoot off your mouth with incorrect information!


nowaynohow
He clearly paid 1/2 of your living expenses. $5k plus housing (figure cheap housing is > $200/month), plus I bet you are eating his groceries.

With $14k in income, even as a dependant, you are paying a lower rate of income tax than he'd be paying. The $3200 deduction gives the family more money on his form than on yours.


averywalters
Rating
YES


Tha Deacon
Rating
yeah it is legal and if you dont ant him to do so move out so next year he can't claim you but he can claim you for next year


Judy1
Rating
If you are providing over half of your own support for the year, they can't claim you, otherwise they can. But realize that the value of providing a place for you to live counts as support. There's no real way to tell from the info you provide what your, and your dad's, contributions to your support are. There's a worksheet to calculate support on irs.gov in several places - one is page 32 of IRS Publication 17. Download it and fill it out.


krist
Rating
yes, until you are 23 years of age you are still considered a legal dependent of your parents and if they contribute more than 50% of your living expenses (even if you dont live with them)- which includes: rent, food, school, clothing, utilities etc, they can claim you on their taxes as a dependent.
i know this because when filing for financial aid, you have to use your parents taxes as well as your own.
your parents wont get a credit on you if youre over the age of 16, but you are still considered a dependent.


faerieshy
go to the irs website, there are "tests" to see if you qualify for certain things like being a dependent.


visvardis
Rating
as long as he pays at least 50 percent of your support


HeatLea
If you are a full time student your dad can very well claim you as a dependent. You still have to do your own tax return, but in the section that asks can someone claim you as a dependent on there tax return you need to say yes. Your dad is paying for your Education so he is able to claim certain credits. Be thankful that he is paying because you would be not be able to do it on a 14,000 Job.


Jeanne R
Rating
If your parents are providing at least 51% of your support (housing, food, utilities, insurance [car and health], college costs, automobile, etc., then, yes, they can claim you as a dependent regardless of your age.


carpediemmaster
If he contributed to at least HALF of your living expenses, he can

A place to live is pretty major!!
You buy your own food?


malloryreibsome
Rating
he is allowed in most states at least half because he has paid for at least half of your expenses......check with your local tax office and ask


rtfm
If you're under 24 and you're a fulltime student and you live in your parents' house, then YES, absolutely, definitely, it is legal for them to claim you as a dependent.


mikesdreamer
Rating
Because you are under 25 and a fulltime student, I think he can... unless 14000.00 is above the limit for your earnings.


bribri
yes because he provides more than 50 percent of your living conditions and schooling. You can still file your taxes and get that stimulas refund i believe tho


babimumbles23
Rating
I DONT THINK SO.


wiremu
Rating
anyone over 16 cannot be claimed -- thats the legal age for being an adult


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.004
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy