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83 votes

Why would the IRS ask for birth certificates or even audit a small tax return?

For people that don't earn very much, the largest single financial event of the year is often getting a large tax refund thanks to the Earned Income Credit and the Child Tax Credit. These refundable ...
Hart CO's user avatar
  • 70.5k
35 votes

What's my tax situation if I earned $20k, age 22, and live with parents?

There are no pure income requirements when claiming someone as a dependent - the main requirement is that your parents need to have provided more than half of your support for the year. Since they ...
D Stanley's user avatar
  • 136k
29 votes

Affording Daycare for first child

I feel like you're getting overwhelmed with all of the variables and possible scenarios and are trying too hard to optimize your taxes and budget. I would suggest simplifying things and not trying to ...
D Stanley's user avatar
  • 136k
26 votes
Accepted

Would it be beneficial to not claim my daughter as a dependent so that she can qualify for a Pell Grant?

For FAFSA purposes, your financial information is required regardless if you claim her or don't. In the federal government’s eyes, parents are responsible for their children’s’ education, regardless ...
Michael's user avatar
  • 10.2k
17 votes
Accepted

Do my partner and son need an SSN to be dependents on my taxes?

You are required to supply a Social Security Number (SSN) when claiming someone as a dependent on your tax return. Or, use an Individual Taxpayer Identification Number (ITIN) if they are not eligible ...
Nosjack's user avatar
  • 8,697
15 votes

Affording Daycare for first child

The bottom line is that children are expensive. It is highly unlikely that you will recoup a significant costs of having children through tax savings. While many parents go overboard on spending, ...
Pete B.'s user avatar
  • 76.7k
13 votes

Does my adult daughter need to file her own taxes?

First of all, the two options you mentioned are not mutually-exclusive: You could claim her as a dependent, AND she could file her own taxes. Those are separate decisions. Depending on her income ...
Ben Miller's user avatar
  • 116k
12 votes

Is it correct for employer to not take out federal taxes with 2 dependents?

Owed tax on 50k is roughly zero after the child tax credit (note: you will actually owe some if you got those advance child tax credit checks in the mail) That’s why they’re telling her no withholding ...
Joe's user avatar
  • 35.8k
11 votes

Mother in law expenses - living with us

There are lots of "ifs" with regarding claiming someone as a dependent. TurboTax has a pretty good breakdown here. However, the biggest qualification is: The person must be a U.S. citizen, a U.S....
Michael's user avatar
  • 10.2k
10 votes

Is it correct for employer to not take out federal taxes with 2 dependents?

How much taxes you'll owe really depends on a lot of things that go into your tax return, not necessarily just the wages. There's a nifty app on the IRS website that helps calculating the values to ...
littleadv's user avatar
  • 176k
9 votes

Claiming a deduction for a dependant who has died

For the record, I am the original question-asker and I'm reporting back to say that the approach described in the accepted answer did not work. I am adding a new answer, rather than commenting on the ...
HemiPoweredDrone's user avatar
9 votes

Affording Daycare for first child

First thing, it's scary having your first but you'll work it out. Just breathe. The good news is that you can afford daycare! You will even have money left over at the end of the month so you can ...
JimmyJames's user avatar
  • 3,849
8 votes

What's my tax situation if I earned $20k, age 22, and live with parents?

Whether or not you are a dependent is a separate issue from whether or not you must file a tax form. Per page 17 of the 2016 instructions for Form 1040, you can be claimed as a dependent by your ...
user4556274's user avatar
  • 1,997
8 votes
Accepted

If I can be claimed as a dependent, what do I do without my parent's tax information?

The request for your parent's income comes from Form 8615, Tax for Certain Children Who Have Unearned Income. I typically see this form appear as I'm doing my daughter's taxes and start to enter data ...
JTP - Apologise to Monica's user avatar
8 votes
Accepted

How can I cash a money order made to my baby?

I signed the checks "JoeTaxpayer, parent" and never had an issue with my bank. Note, I am in the US, and my experience may just be with my particular bank.
JTP - Apologise to Monica's user avatar
8 votes
Accepted

Can I claim my wife as a dependent for time before marriage?

Every person has one personal exemption($4050 in 2016). They are either assigning it to their tax form, or they are acting as a dependent and assigning it to another persons tax form. So for 2016 (...
mhoran_psprep's user avatar
8 votes
Accepted

Claiming Significant Other as Dependent

https://turbotax.intuit.com/tax-tips/family/can-i-claim-a-boyfriend-girlfriend-as-a-dependent-on-income-taxes-/L12RRXt6j Your boyfriend or girlfriend must be a member of your household, meaning that ...
RonJohn's user avatar
  • 50.7k
8 votes
Accepted

If someone could claim me as a dependent, but they will not, am I required to check the "Someone can claim me..." box on my 1040?

An interesting question. I was in fact able to find an official IRS document saying that the box must be checked. However, it is not among the normal "user-facing" IRS publications ...
BrenBarn's user avatar
  • 24k
7 votes
Accepted

If I claim a dependent who owes back taxes, is my refund at risk?

You are only responsible for IRS debt that you owe from returns that you have filed for yourself. The back taxes that your dependent owes are between him and the IRS.
NL - Apologize to Monica's user avatar
7 votes

How can I cash a money order made to my baby?

Congratulations on the new arrival! Technically, a gift by check to the baby should be deposited into a newly established custodial account in the baby's name. To open one, you will need to have a SSN ...
Dilip Sarwate's user avatar
6 votes
Accepted

Claiming a deduction for a dependant who has died

ITIN's can be granted for deceased minors via Form W-7: Choose "Dependent of U.S. citizen/resident alien" as the reason for applying. You are required to write "DECEASED" across the top of the form, ...
Hart CO's user avatar
  • 70.5k
6 votes
Accepted

Can I claim my child before birth?

Under the new tax code, you do not have personal "exemptions", just an expanded child tax credit. So those with an under 17 year old child have a benefit to claim. Yes, you can adjust allowances to ...
JTP - Apologise to Monica's user avatar
6 votes

I have sole custody of my kids, can my spouse claim them as dependents on their taxes?

The ability to claim children are typically addressed in divorce or separation agreements. Without the agreements in place, either the custodial parent or in some cases whoever files their taxes ...
Pete B.'s user avatar
  • 76.7k
6 votes

Does a dependent 19 year old have to file taxes?

The rules for whether you have to file a federal tax return are in the beginning of the relevant tax year's Form 1040 instructions, in a section near the beginning called "Do You Have To File?". You ...
user102008's user avatar
  • 17.2k
6 votes
Accepted

If I claim my parent on taxes does that make me responsible for their past debts?

I am not a lawyer. The issue revolves around answering a series of questions: Have you signed anything that assigns financial responsibility to you regarding their debts? Due to a disability they ...
mhoran_psprep's user avatar
6 votes

Do my partner and son need an SSN to be dependents on my taxes?

The accepted answer is fine for situations where a dependent does not yet have an SSN, but may not be appropriate for when your spouse does not yet have an SSN. If your spouse is not yet eligible or ...
Hart CO's user avatar
  • 70.5k
6 votes

Should I remove Adult Dependent from my 2019 tax return so they will receive a COVID Stimulus Check?

You choosing to remove her as your dependent, or you choosing to not have claimed her as your dependent in the first place when you filed, will not allow her to get the stimulus payment. The ...
user102008's user avatar
  • 17.2k
5 votes

Can I claim a parent receiving Medi-Cal benefits as a dependent on my tax return?

You will be able to claim your mother as a dependent on your federal taxes so long as she lives with you for the entire year, you provide at least 50% of her income (pay at least 50% of her expenses), ...
Anthony McCloskey's user avatar
5 votes
Accepted

Adjusting tax withholdings to reduce refund

If you are employed and are having taxes withheld from your paycheck, you complete a new W-4 (talk to HR) with a higher number of allowances, which will result in a lower amount of withholdings. Be ...
Magua's user avatar
  • 5,097
5 votes

Am I a dependent or can I claim an exemption for myself?

Sounds like your parents can claim you as a dependent. The test isn't if they provided 50% of your support, but that you didn't provide more than 50% of your own support. The instructions for Form ...
Hart CO's user avatar
  • 70.5k

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