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NJ Resident.....alimony 72k for 2016 year, Head of Household

Customer Question
No dependients....real estate taxes 11,000...
NJ Resident.....alimony 72k for 2016 year, Head of Household No dependients....real estate taxes 11,000. Estimate taxes Federal and State....wasn't certain I would actually receive monies owed from ex-spouse until recently
Submitted: 1 year ago.Category: Tax
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Answered in 5 hours by:
9/20/2016
Tax Professional: Barbara, Enrolled Agent replied 1 year ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,028
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Your filing status cannot be Head of Household without any dependents. Your filing status is single if you are unmarried.

Based on the information you provided, your estimated federal tax liability is $10,044 and your estimated NJ tax liability is $2,430.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 1 year ago
I have a homeless individual with me for nine months...no income, no assets....doesn't contribute any monies.....I did claim him as a dependent last year....does that change tax owed?
Tax Professional: Barbara, Enrolled Agent replied 1 year ago

Yes. I will provide the revised estimates shortly.

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Tax Professional: Barbara, Enrolled Agent replied 1 year ago

Estimates are:

federal $7,573

NJ state 2,347

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Customer reply replied 1 year ago
Individual just secured work beginning October...can I still claim individual as dependant?
Tax Professional: Barbara, Enrolled Agent replied 1 year ago

How much will the individual earn by the end of the year?

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Tax Professional: Barbara, Enrolled Agent replied 1 year ago

He/She must earn less than $4,050 in order for you to claim him/her as a dependent.

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Customer reply replied 1 year ago
For the months October November and December he will earn 40k, however his expenses for job/project is 16k...so even though nine months I sheltered very needy person, three fourths of year, I'm not entitled....don't mean to sound argumentative towards you....what about health insurance...what is my liability? For two months I was covered by corporation...I've been paying my own monthly trying to estimate what my actual income would be? Are there any other deductions I should bring aware of? My adult son lives with me also, obviously files his return, does that alter single to head of household?
Tax Professional: Barbara, Enrolled Agent replied 1 year ago

We are getting well beyond the scope of your original question. Please take a moment to rate my answers thus far.

Even though you provided support for this individual, his income excludes him from being a dependent on your tax return because of his earnings.

As to health insurance, you can deduct the premiums you have paid that are IN EXCESS of 10% of your adjusted gross income.

If you son lives with you and has earnings over $4,050, he cannot be claimed as a dependent and you cannot file as head of household. The only exception would be if he is under age 19 or, if a full-time student, under age 24. There is no age limit if your child is permanently and totally disabled.

In order to file as head of household, you must have a dependent.

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Customer reply replied 1 year ago
Ok..ty...will submit Payment
Tax Professional: Barbara, Enrolled Agent replied 1 year ago

Thank you.

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Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,028
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Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

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