how wast he experience? did they charge you what they say they will charge? were you able to get the refund they said theyw ould send you? would you file taxes with turbo tax agian? i'm ...
Additional Details It would be used to get the proper stairs built so no more people fall going out of my house.Helping us to bring up the value on this house by making improvements and ...
My ex-wife and I have been separated for over two year. Before we seperated we had an agreement drawn up that stated that we would each claim one of the children on our taxes. However, she never ...
I live in New York and contrary to news reports, the average price for 87% octane gas is $3.15 a gallon. It should be noted that New Jersey is on average 42 cents a gallon lower than New York. The ...
Sending $ to Inida is easy. I want to know if anybody has done Rs to $ conversion before and how easy or difficult is it?
What is the best procedure?...
a member of my family has obtained photo copys of my childrens social security cards, this person makes it a point to file them with out my permission and then denies that they have filled my ...
People are forever moaning about their tax bill, but still expect all the services to be improved after they pay less. You cant have it both ways, No tax = no services. Which would you rather? A...
I am a 22 year old man living in an apartment with my fiancee and her 3 year old daughter. My fiancee pays only 1/4 of the total bills for maintaining the household... Am I able to file as HOH? Or am ...
I work at a grocery store and so many people come in there with like 6 kids, their nails done, and they are buying steak and icecream with food stamps! It makes me so mad because they don't ...
sedewon
Should I file a tax return for my infant son? He had about 50.00 in interest income from his bank account.?
You don't have to file a return for him unless his unearned income was over $850.
http://www.irs.gov/publications/p929/index.html
Susan K
No. His passive income is below the filing limit of $1,700 .
Ape Sith
Tax on Children's Income:
Form 8615 will be required to figure the tax for the children with investment income of more than $1,800.
SDjenna
No, you don't have to do anything at all with that. Had he earned a lot of interest though you would need to report it on YOUR return (it's called the "kiddie tax" (the theory being an adult cant shelter income from tax by gifting it to their child))
AT6381
that's really cute!
Daniel K
No. I think he has to earn several hundred dollars in interest for it to be taxable, and even then I think you could add it to your return.
SisterSue
It depends on how much you make each year as his parents. YOu dont' have to claim his interest earnings to be taxed it you make under a certain amount of money...its called the "kiddie tax" I think.
There is a new story on the yahoo home page about ten tax laws you need to know about it. Info about the kiddie tax is in that article.
Lovin Her New Little Angel 11/15
if u recieved a 1099 from the bank for that account you can claim that with ur deduction for him because the child is a minor and your claiming him he doesnt have to file a income taxes...you are responsible as a parent to claim him and his income
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