Last year I lost my house due to extended unemployment, the home was foreclosed on in April 2006. I just received a Form 1099A and have tried looking on the IRS site, but no luck. Do I need to ...
I had my daughter back in October. Tax season is coming up and I heard I couldnt claim her without her SS number. Is that true? The hospital usually files for it, but someone misplaces paperwork, ...
My husband started working for the City of CC and of course being a heavy equipment mechanic one must have their own tools. He has purchased several items adding up to almost $2,000. We have saved ...
How do I get this amount of money? Any ideas! Additional Details I am willing to work....and open to work but it is important that I have 50k by the end of this year.......
Do we 1) include her $6000 income and withholdings on our return?, or 2) have her do her own separate return for her $6000 income and withholdings? Is option-2 correct?
My uncle wanted me to check this out for him. His daughter is over 30 and living at home and pays 150 a month rent to him. He was on a disability pension before he turned 65 and up til that point ...
i resigned from my job 6 weeks ago, since then i have been looking for another full time job but have not been succesful yet, i do not want to sign on the dole but do i have to tell the dole office ...
Credit card interest
Auto loan interest (auto was paid for by a home equity loan on residence)
Auto insurance
CPA for preperation of last year's taxes
Safety deposit box for ...
I am married, my wife stays home (and has all of 2006) with our only child....I think that is the prime example of H.O.H....but I am not sure. How will I benefit and how should I be filling out my W-...
ok, so the last 2 numbers of my soc, are 11, and still no stimulus payment. I filed with turbo tax, paid the fees on my credit card, and got direct deposit back in february. Where is my money!!! ...
I am having my baby in January and I was wondering would i be able to get child tax credit for him since he wasn't born this year in 2008 and I'm gonna be filing taxes for 2008 would he ...
Not unless he is a qualified charity. You can give him $12,000 per year as a gift without having to do any paperwork.
Jerry
No, you can't. But he doesn't have to recognize it as income either.
r_kav
No. Your son is not a "qualified charity", although it may sometimes seem that way.
Bluto Blutarsky3
I think you are confusing the "gift tax" exemption of 11k a year per person gifted to with an income tax exemption.
Martini61
Is your son a 501(c) organization? I don't think that will work.
Jason F
no cause he is not a charity. Heis your son. and plus what would that get you back a half cent
Shannon L
No, he is not a qualified charity. Also, there are regulations in place to prevent high income parents from spreading thier income among children. If you gave him that gift, anything over $1,700 will be taxed at your rate.
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