Just wanted to know I didnt work for the yr "06" and well I was told that I can report taxes for my 2 kids that I have carried before when I was working ?? Need to know if this is possible ???
2006-12-16 04:15:40 · 3 answers · asked by sgd_88 2 in Business & Finance ➔ Taxes ➔ Other - Taxes
I hadnt heard of that so wanted to know if someone else could of heard the same thing ???
2006-12-16 10:05:43 · update #1
I have kids under 18 yrs of age. (2)
2006-12-17 06:53:19 · update #2
If you did not work and had no earned income, there are no credits that you can get. If your total income for 2006 was $0, there is no reason to file a tax return.
2006-12-16 04:58:26 · answer #1 · answered by D.M. C 2 · 1⤊ 0⤋
Page 12 of the instructions for the 1040 refers to an election to include income from children under 18 on the parents return. This is not available unless the child's only income was interest and dividends. If the child had any earned income or has had any withholding, they must file a separate return.
2006-12-16 10:51:49 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Personal exemptions for yourself and you children reduce taxable income. If you have no income, there is nothing to reduce.
If your children are working, they would need to file if their income is more than the standard deduction and the personal exemption amounts, or if they made more than $400 from self-employment.
You can AMEND your tax returns for prior years if your kids meet the definition of a qualified dependent in those years, i.e. they lived in your home as their primary place of residence and you provided more than half their support.
2006-12-16 20:27:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋