Ask a question

Is There A Certain Amount Someone Gets For A Tax Dependent Over The Age Of 18

Can I claim my sibling(s) as a dependent on my taxes?

You can claim your siblings (all of them) since your mother is not filing a tax return and your AGI is higher than hers would be if she did file one. None of her benefits are taxable income, so her AGI is $0.

You are also older than your siblings, so that test is met.

They lived in your home for more than half of the year, so that test is met.

The only remaining test is how much support your siblings provided for themselves. You don't count welfare or other public assistance as support provided by the dependent so it appears from what you state that they provided NONE of their own support. Since they provided less than half, they qualify as your dependents under the Qualifying Child rule.

You probably can't claim your mother so don't even try. It won't change anything anyway so no sense bothering with that.

You can also file as Head of Household (though at your income it won't help) and claim all 3 siblings. (See my correction below on this.) You can also claim the Child Tax Credit for any who were under age 17 as of Dec 31, 2012 and the Additional Child Tax Credit for them as well. Finally you can claim the EIC. You're looking at a refund of around $7,700 if all of your siblings were under age 17 as of Dec 31, 2012 plus whatever federal income tax was withheld from your pay. Spend it wisely as it has to last you a year.

The IRS may ask for proof, so have all of the documentation (lease, school and medical records, birth certificates, SSI and public support paperwork, etc.) handy in case they ask.

See IRS Pub 501 for further information.

Correction: Don't file as HoH. File as Single You probalby didn't cover half of the total cost of maintaining the home, but as it does not affect your tax liability or refund amount it's a wash. No sense giving the IRS something else to challenge especially as it doesn't make a difference.

How do I stop someone from filing me on their tax as a dependent?

OK, first off you’ve provided far too little information to begin to provide an accurate answer. So I’ll throw out some broad answers.If you are under 24 years old, live at home and are at least a half time student, your parent, aunt, uncle, etc can legally claim you as a dependent. Suck it up.If you are under 18, regardless if you have a part time or full time job, you are a dependent of your parent or guardian. Suck it up.Now if you are of legal age, do not live with a relative, ie parents, grandparents, etc and your income is over a certain level you *can not* be claimed as a dependent. In this case the legal age can be argued as 18 or 25, depending on if you are also enrolled in school or not.If you are filing a return, and it was rejected stating you were claimed as a dependent upon another person’s return, you can still file a paper return and challenge that. You will be required to provide extensive documentation proving your claims.IF you are successful in that, you’ll likely be issued an IP Pin.

What does it mean to be dependent on your parents tax return?

I'm filing my 2007 W2 on my own, I don't really depend on my parents for anything, this is the cause of me working to begin with, I pay everything myself.So if turbo tax asks me "A parent or someone else can claim this person as a dependent on their return." should I check the box or not? My parents already have files their taxes, and I'm pretty sure they didn't include me with them, considering I just got my W2 a couple days ago, and they already filed about a month ago.

What does number of dependents mean?

Dependants are the number of people who "depend" upon you and your earnings for their survival.Usually, an earning man/woman's aged and retired parents would be the dependants.Children below 18yrs old would also be termed as dependants.Any other person, due to a mental or physical disability would also be a dependant.

Is there any benefit you can get from your government if you adopt a child?

If you’re talking about the United States government, you can get the indirect monetary benefit of claiming an additional dependent on your taxes plus any other applicable child-specific tax perks that are enacted from time to time (such as nontaxable dependent care costs deducted from your paycheck so as to decrease the amount of your taxable income).Your state might also provide some perks. Here again the extra dependent would likely affect your state taxes. offer specific payments. For instance, if the child had been in foster care for a certain amount of time, the Department of Children and Family Services (or whatever your state calls it) might offer adoption assistance payments for a period of time as a means to encourage adoption. Such payments to encourage adoption benefit the state by eliminating the continuing costs of keeping the child in state custody (e.g., foster home payments, departmental case manager salaries and general administrative expenses).Special considerations apply if you are part of a low income household. If so, your child might qualify for Medicaid so as to relieve you of a large portion of the medical insurance costs you might otherwise encounter. Your household would also qualify for a larger food stamp allotment and possibly, if living in subsidized housing, a larger house or apartment. A program to subsidize day care costs if needed in order for you to work might also be available.

Can a father deposit money into the PPF of an adult independent son to avail himself of the tax benefit of 80c?

A per PPF rules as the minor becomes age of 18 he/she can operate the PPF account on his own. He/she along with his parent(either father or mother) who has opened the account has to submit a revised application, new nomination and attest the ex-minor signature and inform bank or post office where the account is.After that any tax benefit cannot be claimed by parents since the PPF account is no longer held by a minor.

Does a minor getting paid minimum wage have to pay taxes?

You are subject to potential income taxes no matter what age you are. Even babies who have investments in their name are subject to income taxes. However, you may not owe any income taxes if you don't make very much money. Under $5950 as a dependent at the current time is tax free. You will still pay social security which is non refundable.

It comes out of your check depending on how your fill out you W-4. At the end of the year you often have to file a tax return as the payroll deductions are estimates and the year end filing fixes the estimates.

Working at Walmart paying tax under age of 18?

When I was 17, I stated filing taxes. The person who answered before me is sort of right-you do have to pay some taxes (like social security), but you are exempt from income tax at your age (there is a space on the w4 to claim exempt).

Even if you claim exempt all year, you would still want to file your taxes to get the EIC (earned income credit) since I assume you won't make enough being a teenager at Walmart.

You will get the money back when you do your taxes next year-but if you want the money now, you will have to fill out a new w4, and it won't change what you already paid into taxes.

Im 18, are my parents allowed to keep my taxes?

When you do have your own EARNED income that you did have to work for to earn during each tax year age does NOT have any thing to with it for that type of income.
W-2 form your employers during the 2014 tax filing season for the 2013 FIT return Box 1 $$$$ Gross wages for the tax year Box 2 FIT $$ amount as a TAX CREDIT amount to be entered on the correct line of your 1040 FIT return at that time and a possible REFUND amount with a check or a Direct Deposit in your name ONLY for that purpose during the 2014 tax filing season.
Unearned Income: For Form 8615, unearned income includes taxable interest, ordinary dividends (including taxable Native Corporation Dividends), capital gains (including capital gains distributions), rents, royalties, taxable social security benefits, pension and annuity income and income received as the beneficiary of a trust.

Topic 553 - Tax on a Child's Investment Income

The following two rules may affect the tax on the investment income of certain children:

•If the child's interest, dividends, and other investment income total more than $1,900, part of that income may be taxed at the parent's tax rate instead of the child's tax rate. See Form 8615 Instructions, Tax for Certain Children Who Have Investment Income of More Than $1,900, or
•If the child's interest and dividend income (including capital gain distributions) total less than $9,500, the child's parent may be able to elect to include that income on the parent's return rather than file a return for the child. See Form 8814 (PDF), Parents Election To Report Child's Interest and Dividends.
For either rule to apply, the child must be required to file a return. See Publication 929, Tax Rules for Children and Dependents, for filing requirement information.

Part of a child's investment income may be taxed at the parent's tax rate if:

To make this election, attach Form 8814 (PDF), Parents' Election to Report Child's Interest and Dividends, to your Form 1040 (PDF).

Refer to Publication 929, Tax Rules for Children and Dependents, for more information in general, including the following issues:

•Parents who do not file a joint return
•A child with capital gain distributions, and
•Other effects of the election on the parents' return
Hope that you find the above enclosed information useful. 12/05/2013