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How can I claim my 20 yr old son as a dependent ,when he makes 13K a year on his job?
Optional Information: State/Country relating to question: California Already Tried: nothing
Good morning. Here are the Rules for being able to claim your son as a dependent....
To be claimed as a qualifying child, the person must meet four criteria:
Relationship - the person must be your child, step child, adopted child, foster child, brother or sister, or a descendant of one of these (for example, a grandchild or nephew).
Residence - for more than half the year, the person must have the same residence as you do.
Age - the person must be
Support - the person did not provide more than half of his or her own support during the year.
I hope this has given you the guidance you were seeking. I wish you the best of luck!
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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.
Experience: 29 yrs. as tax, real estate, and business attorney
My son works part time,4 days aweek. He goes to college, which I am paying for. He is a full time student. I am also paying for his medical / dental insurance through my employer.. I need to know ,how to list him as a dependent on taxes . I also need to know how he needs to file his income taxes. If I claim him as dependent, then he has to claim zero dependents on his tax forms. This means he has to pay IRS taxes at a higer rate by claiming no dependents. What do I do?
Unfortunately, you can't both claim him. Given your facts, you can sustain the argument for claiming him, but if you do, he cannot claim himself. You guys will just need to decide who gets the exemption.
Its not the exemption I'm worried about. Its my sons tax consequences if I take exemption. . I guess ,what I need to know is, 1] If I claim my son , does he still need to file a return? If so,, 2} Will he have to pay taxes on the higer "no exemptions" status?
Yes, if you take the exemption and he has no deductions, he will need to file a return and will pay taxes...part of his income will be taxed at 10% and part will be taxed at 15%.
Thanks