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Subject:
Tax Question: Claiming son as dependant
Category: Business and Money > Accounting Asked by: bear383-ga List Price: $10.00 |
Posted:
29 Sep 2005 07:44 PDT
Expires: 29 Oct 2005 07:44 PDT Question ID: 574191 |
I am 24 years old and live with my mother. She claims me as a dependant every year on her taxes. She earns 101,000 per year (I can check with her if you need exact numbers). I recently got a job and she is worried that she will not be able to claim me as a dependant come tax time. Is this true? Is there a maximum amount I can earn, afterwhich she can no longer claim me as a dependant? I will consider the question answered if: The answers includes this amount (or an approximation) OR a literature source that allows me to calculate this amount. Other Info: We reside in Westchester, NY. My parents are divorced and my father does not claim me as a dependant. I reside solely with my mother. |
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Subject:
Re: Tax Question: Claiming son as dependant
Answered By: omnivorous-ga on 29 Sep 2005 08:34 PDT Rated: ![]() |
Bear383 ? Unless you?re a full-time student UNDER the age of 24, there are 5 tests that you have to pass to be claimed as a dependent: 1. Member of household for the entire year or a relationship 2. Citizen or resident of the U.S., Canada or Mexico 3. You do not file a joint return test, 4. Your gross income test had to be under $3,100 (2004 tax year rules) 5. Your mother must provide more than half of your support U.S. Internal Revenue Service (IRS) ?Topic 354 ? Dependents? http://www.irs.gov/taxtopics/tc354.html Note too that if you?re filing an income tax return, only one of you can claim you as an exemption. Publication 501, ?Exemptions, Standard Deduction and Filing Information? also covers the same topic here in detail ? IRS ?Exemptions for Dependents? http://www.irs.gov/publications/p501/ar02.html#d0e3195 Google search strategy: Search irs.gov site for ?dependents? Best regards, Omnivorous-GA | |
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bear383-ga
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Subject:
Re: Tax Question: Claiming son as dependant
From: nelson-ga on 29 Sep 2005 10:17 PDT |
The good news is you can take a deduction for yourself on federal (but not state, I believe) tax. You cannot deduct yourself if someone claims you as a dependant. |
Subject:
Re: Tax Question: Claiming son as dependant
From: bear383-ga on 29 Sep 2005 11:08 PDT |
Even if I live with my mother? |
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