A couple of weeks ago I wrote a post about whether or not a married couple can choose to file a separate return where one spouse claims the other spouse as a dependent. The answer is yes, if the spouse being claimed as a dependent: Has no gross income, and Isn’t filing a tax return, […]
Your daughter is likely your dependent. The key test is: is she providing more than ½ of her own support?
What to do when your college-aged child files a tax return and claims tuition credits you were entitled to on your own return.
The “”Additional Child Tax Credit” is the portion of the child tax credit that is fully refundable regardless of a taxpayer’s taxable income.
Form 8332 is a tax form signed by a custodial parent to release their claim to a dependency exemption for a child and give it to the non-custodial parent.
Couples in same-sex marriages have been able to file federal taxes as married since 2013, but questions still arise. Here’s a recent question from a reader: if I’m in a same-sex marriage, can I claim my spouse as a dependent? The answer to this question is: no.
The tax brackets stop at $0 of taxable income — having taxable income below $0 doesn’t mean your tax liability is a negative number or that the government “pays you more money.”
Over Memorial Day week, I re-published some popular old blog posts. One of those posts was about Iowa taxes and the “married filing separately” filing status. In Iowa, married filing separately has some oddities. For example, itemized deductions must be allocated based on income ratios. This is a different concept from filing separately on a […]
Since it’s a holiday week, I’m reaching into the archives and re-running popular stories from days gone by. This story is about a Tax Court ruling over dependency exemptions relating to separated couples. —– Originally published October 17, 2011 A man by the name of Mr. Alarcon lost a Tax Court case on Monday over […]
A bill being proposed in California would allow a child there to have more than 2 parents. What would the tax issues be?