United States - January 2007

Here is the set up. I have a 5 year old daughter and I have claimed her on my taxes EVERY year. I am in Nevada and her father is in Ohio. The Ohio court FINALLY awarded Child Support last year but ruled we will alternate who claims her on their taxes and this is the first year for him. The sucky part is he hasn't had a job since October 2005 and I make $30k+ a year. She hasn't seen him in years so he has had her 0 months of the year. I sent him the form 8332 so he can claim her exemption.....

It is my understanding that he can claim her exemption as a dependant and use her for Child Tax Credit purposes.

It is my understanding that I can still use her as a "qualifying child" for Head of Household, the EITC, and for Dependant Care Expenses.

Did I understand the IRS rules correctly? I know it says over and over that these can't be split but I think there is an exception for the "Divorced/Seperated Parents" Does me signing form 8332 mean I give up ALL my claiming rights?

2007-01-11 16:37:08 · 3 answers · asked by eccentricmommy 3

2007-01-11 16:17:55 · 2 answers · asked by smilingontime 6

Hello All,
I am a single parent, student, & an employee. Taxes are here now & I need to know if it is possible to file taxes on financial aids like Pell is possible? I have heard students & people from my work place telling me that I can claim it. Is that true? So far, I know that I have my daughter to claim & her daycare vouchers. I get help from the govt. & father doesnt help. & when I did my taxes the 1st time to apply for financial aid the school told me that I didn't check EXEMPT on my tax paper. & they were going to make me pay $4,500 out of pocket. Sure I can pay that if I didnt have a kid but I do. The school said I had to check exempt from now on. I dont get it. I thought that means I didnt want to claim taxes? Did I get this backward? Can you let me know what is the proper procedure to do this. I usually do my own taxes. What will happen to my financial aid? Will the gov't deduct that since they gave it to me for school purposes or what? And what does EXEMPT really mean? TY

2007-01-11 16:15:05 · 5 answers · asked by khmer_gurl_336 2

We are in contract and I was trying to wait until the the March deadline to pay our property taxes. Can I still do that even if the closing on the house is in Feb?

In other words ____Can I still close on the house while oweing the taxes or must I pay them before the close

2007-01-11 15:53:27 · 4 answers · asked by That_ blue_ eyed_ Irish_ lass 6

if i made over $2,000 this summer and my parents still get to claim me appoximatly how much do u think i would get back in taxes....i've never filed them before so i don't know if i'll even make enough to make it worth while...:(

2007-01-11 15:51:59 · 6 answers · asked by hmmm...interesting 3

I'm doing a paper for school and does anyone know how much the average American pays in taxes/

2007-01-11 15:14:41 · 9 answers · asked by brianalynn 1

Well my friend is putting me on her taxes and I was wondering when she sends it off, how long does it take for you to receive the money. I am new to all this tax stuff.

2007-01-11 15:11:22 · 7 answers · asked by Firstlady aka Bosslady 1

2007-01-11 14:46:17 · 9 answers · asked by Cathy F 1

I only worked part time from july to dec and earned about $5800.00. Does my husband have to claim my income when we file?? I thought it would be okay.

2007-01-11 14:40:20 · 7 answers · asked by jenner76 2

2007-01-11 14:32:10 · 4 answers · asked by ferdi 1

2007-01-11 14:26:38 · 11 answers · asked by mizchulita 3

I was collecting work comp for 2 months last year and get many different answers when I ask this question.

2007-01-11 14:24:35 · 6 answers · asked by DuffMan409 2

i made 5,930.00 for 2006. am 19 go to college have 1 dependent paid for her daycare!! how much in credits do i get? & what is my total refund?

2007-01-11 14:14:47 · 6 answers · asked by mayra f 1

Any benefits we might be able to capture on our IRS 2006 return??

2007-01-11 13:58:47 · 8 answers · asked by jenner76 2

I usually claim exempt for the first 6 months.

2007-01-11 13:02:13 · 9 answers · asked by Anonymous

I am a 23 year old male, that will file at independent. I did not file my taxes for year 04 and 05. I filed for extensions in those years, but I am obviously overdue on the extension. The IRS would have approximately owed me $1500 for both years. I have capital gains in both years (1099) and I will file for the Hope Tax Credit in one year and the Deduction (I forget the name) in another.

1. Can I choose the year I file the Hope Tax Credit? I know that I can select two years, but I want to choose 05 because I have a larger payment to school.

2. What is the quickest way to receive my refund?

2007-01-11 12:52:59 · 7 answers · asked by bo, kingpin at large 2

lender sold my mortgage to another wells Fargo, i made 1 payment to the wells Fargo in December before the year was over, my question, do i combine the interest from both lenders on the tax form together or is there another way that this is to be done on the tax form !!!!!!

2007-01-11 12:52:04 · 7 answers · asked by robert n 1

I often go to vegas and generally play the slots. I come with cash wihich I remove from an atm, so how can I prove that I lost that money gambling? I just learned that I can claim them on my taxes but I don't know how to keep track of the money I spend (lose).

2007-01-11 12:42:08 · 7 answers · asked by mudd 2

Her birth date was sep. 12,2006

2007-01-11 12:38:04 · 5 answers · asked by needs help 1

still it shows nothing except the amount of my refund. I am hoping someone in answers is an employee and they can tell me what is going on. I used taxcut and have done so for the past 2 years with no problems. any ideas or solutions?

2007-01-11 12:12:51 · 3 answers · asked by starla 3

staying in new jersey and married.

2007-01-11 12:06:29 · 3 answers · asked by sarath_reddy54 1

2007-01-11 12:00:52 · 7 answers · asked by Anonymous

I have TurboTax from last year and wanted to know if I need to buy the new one or will the old one still do the trick?

2007-01-11 11:54:31 · 9 answers · asked by Carlos S 1

2007-01-11 11:52:53 · 7 answers · asked by thejokker 5

I am a single mom so I know I qualify for the EIC.I just dont know if I will owe anything since I made over 10,000.00

2007-01-11 11:30:54 · 8 answers · asked by swanlbby 3

2007-01-11 11:26:07 · 15 answers · asked by Anonymous

I came across this website offering free tax software to prepare your tax return for free. It even claims that you can e-file for free. I've always used TurboTax and paid for the software and to e-file. Has anyone ever used this software? Is there a catch?

https://www.taxactonline.com/s_online_tax2006/introduction/free_taxact.asp?&t=6354.116&t=1417.596&t=65763.79

2007-01-11 11:20:25 · 7 answers · asked by tma 6

I have a regular job with the regular salary I budget myself on and already received a w2 from my employer.

In 2006, I took some extra retail work throughout the year to supplement my income....for about 1,500, 200, and 400 in each job, so about $2,100 total. Do I need to claim this income since it is in addition to my regular salary, even though combined it is under $3,000?

If I file without them, can I amend my return later? Is this a big process to do so?

Thank you

2007-01-11 11:16:07 · 6 answers · asked by Anonymous

I had an early distribution of my 401k. When it was distributed, the company said that I could elect to have all the taxes and penalties taken out at the time of the distribution instead of waiting until tax time. I had them do this, but now I'm wondering what do I put on my taxes? Do I claim it still even though I was already penalized? Is there a special form?

2007-01-11 11:06:51 · 5 answers · asked by trixie 2

My hubby and I were separated at the end of 2005. We got back together in March 06 when he got hurt. He has very little income (2 months). What would be the best way to file this year? Can we still e-file since I love getting my money right away? Please help. Any advice would be greatly appreciated.

2007-01-11 10:50:10 · 5 answers · asked by eharrah1 5