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 To avoid paying taxes, my dad would like to gift money to my son and I from the sale of property.?
Is this possible? My father received $80k from the sale.
Additional Details
I forgot to advise: We are in Texas. The property was a vacant lot....


 Can anybody tell me the sales tax on $1,349.00 ?
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 How much is u.s 1million dolars .indian rs?
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 I have recieved a refund from the dreaded tax man!!! and it feels good.?
nice to get a result against the big boys eh!...


 Why does Obama think his tax plan will work?
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 No time to do tax return. Can i send a cheque as a 'guesstimate;' and avoid a fine?
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 Would you support a per item tax to replace our Fed. tax system?
YOU would then be in control over the amount you pay for your Fed. taxes. The taxes you would pay would be determined by the cost of the consumer item. If you didn't want to pay the higher tax ...


 Tax rebates...is it true??
I have heard so many different stories. Please give me some accurate insight. And are we recieving them by the last 2 numbers of are SSN number.600 or 300 for individual....I heard it changed....


 Do I file married filing sep., single, or head of household legally if I've been unlegally sep. since 7/1/06?
I left my husband on july 1st, with my daughter from a previous marriage with which I have custody of and I need to know if legally I have to claim married filing separately or if I am allowed to ...


 I'm a student who made $415 dollars in 2007 do I have to file taxes?
and if I file taxes can the tuititon and fees I paid ($4200 to be exact) be used as a deduction or credit?
I was not employed during 2007 but I did offer services as for eyelash application/...


 Advice Please - Tax Evasion?
Hi
Not sure if thsi is the correct forum to post but here goes:
I'm currently under investigation from HMRC. They have requested bank statements from a 2 year period (I gave it to them)...


 What does CPA stand for?
And also what does one have to do to become a CPA?...


 Want to get 10 points!!!!?
Can the Irs put a lien on my bank account if i move to Argentina and im not an American Citizen but i was livin in USA for 7 years?
Additional Details
To someone said I’m thinking of ...


 If you direct deposited ur taxes but had them deduct the fees from ur taxes u will recieve a paper check?
i think this is bull crap man cuz we still used direct deposit whats up with this here i am expecting to get my money on the 9th and i just read that even if u used direct deposit but had the people ...


 How much is the tax for $109.99?
I am buying an electric scooter and it is $109.99
how much is the tax?


Additional Details
im in ...


 What if I have not recieved my tax rebate yet?
I have not recieved my tax rebate yet. According to the schedule it was due last month. I filed electronically in march. The IRS website and hot line are not help. Anybody else not recieve theres yet?...


 Im a stay at home mom, can i claim my daughter and get some kind of refund even if i didnt work that year.?
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 Good idea social security number?
every other time I go to the barber shop they ask for my social security number and then they write it down. the thing is, I paid with cash and they still did it! is it a good idea to give it to them?...


 I got a letter from the IRS today, it says that we should expect our stimulus check by Friday May 23.?
But when I look our infromation up on the website it says it will be mailed on Friday. What's up, does anyone know?
Additional Details
I read the letter word for word and it says ...


 R u a democrat or republician?
r u a democrat or republician ?????...



curiouschris
If someone pays child support, can he/she claim them when filing taxes?
                     
 




nelson_devon
Rating
You may be able to. This is usually addressed in the divorce proceedings.


yenkoman1969
Rating
Yes, I do and had to go through court preceedings to get it. I figured my ex. who refued to get a job, popped out 3 kids by 3 different fathers after we boke up, didn't deserve the free ride and taxbreak, when I was the only one working. Ahhh, welfare queens, ya' got to luv em' !


kimann_64
If the custodial parents agrees to allow the absentee parent to claim the child. Only one parent can claim the child as a tax deduction. The best way to handle this is to let the custodial parent claim the child one year and the absentee parent claim the child the next year. This is usually outlined in the divorce agreement or the child support court papers.


ninasgramma
Child support does not qualify a taxpayer to claim the child as a dependent. Before 1984 there were such rules, but they have been abolished long ago.

To be recognized by the IRS, a legal agreement between parents regarding who claims the child cannot be tied to child support.


badboynheat
Rating
Get it through the judge.

Most moms that are deadbeats refuse to work anyways and prefer to live off the system. Kinda like Yenko said. Well if your on welfare, you CAN'T get refunds. So it evens out.


cork
no....
not unless there is a court order..and seldom ever is.


Spartacus
No.

Direct from the IRS website:

"Nothing can be deducted for the child support payments. Child support payments are neither deductible by the payer nor taxable income to the payee. You may be able to claim the child as a dependent. The parent who the child lived with for the greater part of the year is the custodial parent. Generally the custodial parent is allowed to claim the exemption for the child if the other exemption tests are met. However, the noncustodial parent may be allowed to claim the exemption for the child if the custodial parent signs a Form 8332."


Judy1
Child support is not taxed or deductible, and isn't reported on either the payer or the recipient's tax form. And paying child support does not entitle the payer to the exemption for the child unless there's a clause in the court papers, like in the divorce decree or child support order, that says the payer can claim the child as a dependent. If there's nothing in writing that way, the custodial parent has the right to claim the child if he/she meets the requirements that the child lives with him/her for at least half the year, and the child doesn't provide over half of their own support. There is no requirement that the custodial parent provide half, or even any, of the child's support to claim them as a dependent.

The custodial parent may sign a form allowing the non-custodial parent to claim the child as a dependent, but is not required to do so.


Celeste
Rating
If you're meaning, can you claim any amount of support paid on your taxes as a deduction? The answer is: NO!
You do not and should not get credit for something you should be doing anyway. And child support is not counted as income for the other parent.
Alimony is another story altogether.

As far as claiming the children, paying support doesn't serve as qualification for someone to claim them. The IRS website has tons of information that can help you determine if you can claim the children and what credits you are qualified to get.


John F
not automatically.
Deductions go to the parent who has custody of the kids the greater part of the year. If it's 50-50, it goes into certain rules.
Child support, unlike alimony, is not tax-deductable for the payor nor is it taxable for the payee. The justification is that parents of married couples pay out money for their kids and are not allowed to use that, so why should divorced parents get a reward. That's the logic, not to say I agree with such brain dead drivel.
However, you and the custodial parent can come to an agreement on this. One standard one allows either alternating of years or splitting of the kids if there is more than one on the condition that child support is paid and is on time. The other parent needs to sign form 8832 (available at http://www.irs.gov/pub/irs-pdf/f8832.pdf). The courts can also order the custodial parent to sign if they see fit.


KRISTINA B
Rating
If the other parent agrees you can claim them as a dependant. Its called a dependant that does not live with you the only catch is that you cannot claim earned income credit for the child (children)


CAE
Rating
If you are paying child support legally the child is not your dependent the custodial parent can declare. The parent receiving the money must declare it under other income sources not from wages or interest.


untanuta
Rating
Yes they can!


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