 What is the benifit to have a pan? |
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what is the benifit to have a pan card?
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 Where's my refund irs? |
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 I received a check from a de-lotto stating that i won. WHAT SHOULD I DO? |
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 Can i claim my 16 year old daughter on my taxes? |
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| I was wondering if I will be able to claim my 1 month old nephew on my taxes. I was unsure because he is only 1 month old but he was born before 2007. (December 28th 2006).And if so about how much ... |
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 How much is minimum wage? |
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Me and some friends helped a family friend do some work on his house. We helped to drywall and put down carpet in his basement.
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 Of tax refund and spouse's child support and "injured spouse"? |
| I was supposed to get a Federal refund of $10,700 and State refund of $345. I filed married filing jointly with my spouse who does not have a job. I have a 4 year old son (from previous marriage). ... |
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 Wrong stimulus Rebate amount??? |
| If anyone has gotten their stimulus rebates or had trouble... was expecting more -- married with 3 kids under 5 years old -- accountant and I both came up with $1625, IRS only sent $500 - anyone have ... |
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 TAX HELP!! Anyone know about W-2'S? |
| Ok if you made less than "XX" amount of "$" at a job do you have to file that W-2? My husband had a rough year and he has a few W-2's that are less than a couple hundred ... |
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Megan P | My parents claimed me as a dependent on their taxes should they have been able to claim me? |
I'm 22 years old and I was a full-time student last year. I also moved to Indianapolis to student teach. I payed for all of my expenses and took out loans under my name only to help with living and school expenses. My permanent address was not my parents house and I payed rent on my own. I graduated in May and continued to live in my apartment. After graduation I started teaching and making my own money. Then I bought a car without a co-signer that I could have claimed on my taxes. When filing my taxes I found out that my parents claimed me as a dependent and now my tax return is a great deal smaller then it should have been. I couldn't claim all of the deductions that I should have been able to claim.
What can I do now that my taxes are filed and so are my parents? Will I get the tax rebate for George W. Bush? |
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Richard M
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Judy is correct concerning the dependent claim. But even if you don't get the rebate now, you'll get your money later.
While the rebate depends on your 2007 status and income, it is actually a rebate toward your 2008 taxes. According to the Economic Stimulus Act of 2008, taxes would be cut in 2008 from 10 percent to zero percent on the first $6,000 dollars of taxable income for individual taxpayers.
So if you have taxable income in 2008, you will see a tax cut when you file in 2009. |
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v b
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Do the support test worksheet in publication 501. Either you supported yourself or not. (It appears you did.)
If you did, claim yourself and alert your parents that you are claiming yourself and your education credits. |
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Judy1
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It sounds like you very possibly provided over half of your own support for the year - if you did, then no your parents can't claim you. If you file a return claiming yourself,
they and you will each receive a letter from the IRS telling you that two people claimed the same person, and saying that whoever didn't have the right to the claim needs to file an amended return dropping the claim - then if nobody does, they'll investigate and decide who gets the exemption. The other person will have to pay back whatever he got by making the claim he wasn't entitled to, with interest and possible penalties.
If you end up with the exemption, you'd get the rebate - otherwise no you won't. |
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MoneyMonkey
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Your parents should not have claimed you. The only recourse you have is to contact the IRS. Talk to your parents. If they get the rebate for you they should at least give it to you. They need to agree to stop claiming you, before they find themselves in hot water with the IRS. |
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nickhawkins21
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Your parents cannot claim you if you are not dependent on them for everyday living expenses. You do not live with them, you make your own money (i.e you are a tax payer), and when you file you should have filed as independent. They need to amend their taxes and remove you as a dependent. The only ones benefitting from this deal is them as they get to claim the tax deductions as you get zero deductions, so it is in your best interest speaking from a financial stand point to talk to them and claim yourself. |
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Charlie & Angie G
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A lot of answers here, most of them inaccurate. The real issue boils down to did you provide more than half your own support for the year? From what you state they did not. You can find out for sure by checking pub 501 p 10 table 5 for dependency, also the support worksheet on p 18.
If you didn’t claim yourself and you have already filed you can amend your return using 1040X. Of course your parents will have to amend their return also taking you off.
When more than one party claims someone as a dependent (you claiming yourself and your parents claiming you) and neither party amends the return to take the dependent off, both will get a letter from the IRS stating someone else has claimed you. If you can claim yourself and they won't amend their return then both returns will go to exam. Your parents will have to prove they provided more than half your support to win.
By the way if you are a dependant you won't get the economic stimulus payment this spring.
What ever you do you should talk to your parents. |
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debbiedo
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I would recommend that you contact the IRS for guidance. It sounds to me like you were entitled to claim yourself. If you had lived in their house (under their roof) for more than 1/2 of the tax year, then they could claim you. If you paid for your own expenses for the majority of the year, then you are entitled to claim yourself. The reverse happened to me, with my son. His final year at home (majority of the year was living in my home and being supported by me), he filed his taxes before I did and claimed himself as a personal exemption. I didn't argue it with him and just let it go. You would not have been able to claim anything on your taxes for buying a car - interest paid on car loans is no longer deductible. I expect that you probably did not have enough itemized deductions and took what's called the standard deduction (most people do). If you filed a tax return for the 2007 tax year, you should receive the $600 tax rebate. I think you have to have at least $3,000 in earned income but less than $75,000. Sounds to me like you probably do.. |
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Charlie
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As soon as you were no longer in school they no longer have rights to you. |
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jennifernichol13
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Yes, actually they can. If you are a full time student, and 23 or under, they can. The only thing is, I am not sure if it counts, when you aren't living with them. Were you living in dorms, and they were still considered your resident? I'm not sure. You can go to IRS.gov, I believe it is, and maybe they have the answer there. A lot of websites now have an online messenger program, where you can chat with somebody right then and there, and they could answer it for you almost immediately. Good luck. That sucks. |
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