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☆Erin☆ | How should I do my taxes? |
I just moved back in with my parents in June, I was a newly single mom, my son't father left me. I don't pay rent or anything but I pay for everything me or my son needs. I even buy our own food to put in the fridge. How do I claim that, am I still my parents dependant because they just gave me a roof over my head. I am so confused, there isnt an option on the tax software I have.
Additional Details
I am 23, I was on my own since I graduated from high school, to those who are calling me ungrateful. I am actually saving to buy a house so answer my question for what it is. |
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CB CPA in TN
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Erin
Your circumstances are complicated a bit. You say you are a newly single mom. Does this mean that you and your child's father were not married? If you live in a state which recognizes common-law marriages, you possibly are. But, regardless, not living with him during the last six months of the year means you can file without him.
Moving into your parents house in June does not mean you cannot claim yourself and your son. However, since you state that you "don't pay rent or anything" the IRS looks upon that as your parents providing you with "some" support and how you value that depends upon the living conditions. If they provide you the "west wing" of a mansion and it's just you, your son and your parents living there, then the fair market value of that lodging might be quite expensive. Most likely, though, it's a room for either you and your son to share or two separate rooms, and you might have a sibling or two living there also. If that's the case, just look at what they would charge a stranger to live there. That's the amount of support they are providing for you. There's no set amount which values lodging.
Next, you have to look at how much it costs to feed, clothe, and provide medical care for yourself and your son. If you're receiving any kind of assistance from the father of your child, or any public assistance also enters into it.
www.irs.gov Publication 501 answers questions about exemptions, filing status, etc. There are other publications listed there which might help provide you an answer.
Good Luck! |
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Sec Educashun
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If you are living with your parents and not paying rent you are probably a dependent of your parents. They are paying over half of your living expenses. |
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SuperCactus
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You have nothing to declare as a deductible expense. Personal living costs are not deductible. |
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carnaby_fudge
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if you are over the age of 18 the only way you'd really be considered a dependent of your parents is if your parents claim you as such on their taxes. if they don't then you are not a dependent and your son can be claimed on your taxes.
this is a complicated issue as to how you should file. i would try filing both ways (as a dependent of your parents and on your own). you may find that being a dependent (as well a your son) gives your parents a huge tax relief that you could split with them. something you may not get if you file on your own.
you should probably talk to a tax professional. they get paid to know all this stuff. and some of the bigger firms offer reasonable rates. |
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exirsman
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If you pay rent to your parents and pay your own food bills, you can likely claim Head of Household and file with your child as a dependent. This is if you did not live with the child's father in 2007. The return will be simple with just your W2s and the child's info. VITA volunteers may be able to help you prepare the return. Check with your local library to see if VITA prepares taxes for free in your area. |
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GANDI
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Go to Best Buy and purchase a software called Turbo Tax. That will figure out your taxes for youand you should get all your answers their. Hope this helps. |
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Kim L
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As long as your parents do not claim you as a dependent, you just claim yourself and your son. Depending on how much money you made, you might be better off filing the 1040ez (you can file this as long as you do not own a home, make over a certain amount, etc) You might qualify for earned income credit for your son. Unfortunately you can't claim food expenses. A great website to get your taxes done online yourself is taxactonline.com. I have used this 2 years in a row. It's cheap like $15-20 dollars and I got my money back within a month. Good luck! |
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chatsplas
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IF you're not paying rent, then you're not paying over half the cost of providing a home for you and your son for more than half the year, and your parents are supporting you and your son and can claim you both. Your parents are providing a roof over your head, you're NOT paying rent or hat or utilities. You've a long ways to go to being self-supporting. Thank your parents for everything they're doing for you!
There's a reason you're NOT finding your option in the tax software. |
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Tina
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Well if you are over 18 and not attending college then no you are not a dependent. You would do your taxes as you would if you were living on your own. |
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