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MegS | My boyfriend and I just had a baby Aug. 16 does it matter which of us claims him for tax returns? |
My boyfriend makes a lot more money than I do, we want to bring home the most amount of money possibe per paycheck but still get money back come tax return season. I always get a refund but my boyfriend always owes. |
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Mathew
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You can agree on who will take the exemption and from there determine what would be best. You may be able to get other benefits such as EIC and HOH. I would estimate your income and have someone calculate a return for each of you doth ways so you can best judge how to get the most back. All of that is assuming that you share you money. |
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skip
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Mathew makes a good point. you have to do computations for each of you. If your boyfriend earns a lot of money he may not qualify for Earned Income Credit, whereas you may.
Consult a tax professional jointly when you do your taxes next year. |
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srrsmr
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It does not matter who claims the baby. Figure it both ways, and who ever gets the most file it that way. |
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Bambi slayer
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Let the boyfriend claim the kid, then both of you might get money back. |
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Screaming Eagle
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No, but you should agree as to which claims the baby as a deduction. I believe there is a form you may fill out stating that he gets the deduction or you do. You want to have this form in case one of you contests it later. |
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JQT
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Only if he is in a higher tax bracket than you and by claiming the baby will lower his tax bracket. Otherwise it makes no difference. |
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joseph6902000
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teah the check comes in his name. you better wait at the mail box!! |
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juljulabie
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one of you.. who will have biggest benefits |
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lambdapicchick
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If he makes more than you, you should have him claim the baby, especiallyu if he has to pay every year. Maybe he should check to see if he is claiming the correct amount on his W-2. Maybe do it on the computer both ways first, and find out who will get the most back, and then claim that way. That is probably the easiest. |
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sascb98
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Then let your boyfriend claim the child, a dependent will lower his taxes. I don't know how much it depends on how much he makes. |
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ACE
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If there is an income he has to pay tax , how can u skip that , but if do then be ready to hear the tax mans bell any time might be one yr or more but well his bell will ring & if it rings he will pull out all the past issues related a big mess to get off.
Safer side keep ur self a peace. |
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