Tax Question?

Question

This is the first time my fiance and i are filing our taxes.We have a 8 month old girl and are skeptical about how we should file so that we get the most out of our taxes.He made more then i did this past year,so my question is:Should we file joint or should he claim her as dependent alone.What do you think?Thanks Lisi

Answer 1

I would go to a professional they can tell you right there what you will get. But I would think a joint one would make you the most! cb

Answer 2

As you have a child, EIC may be in point. You need to sit down with a tax pro to work through both returns at the same time and decide who should claim the child. Unless you get a very good recommendation from someone you trust, please do not go to a chain-store preparer. If you get a first-year rookie, you are not guaranteed the best result. What you need is someone who understands the permutations and has the skill to maximize your refund. A tax-experienced CPA or an Enrolled Agent is your best bet this year.

Remember, there are income limits for your fiance to claim you as a dependent - did you earn more than $3,300. If so, he cannot take you as a dependent. In any case if you live in a state where your relationship violates local law, he cannot claim you, although he can still claim the child.

Answer 3

Joint filing is only for people who are married. Since you aren't married yet, you can't file that way.

One of you can claim your daughter and file as head of household, the other will file single. Either of you can be the one to file head of household - that will be the person who will claim your daughter.

Do the calculations both ways, and see how you come out the best overall. It will depend on how much each of you made, so there's not enough info in your question to say which one should file h of h.

Answer 4

You can't file joint until you are married, either legally or considered married under common law. Assuming that you both live together, one of you will file single and the other one will file head of household (the one claiming the child as the dependent). You can decide based on whoever makes more money.

Answer 5

If you were married, you would file:

Married Seperate
Married Joint (the better of the two options by far)

If you're not legally married, you can file:

Head of household
Single

(That would mean that one of you can claim head of household and claim the girl, and the other has to claim single. The one filing head of household has the option of claiming anyone else they provide more than 50% support for as long as they don't have significant income of their own and live in the household.)

Answer 6

The question is not whether you should file jointly as you are not married. This is not allowed.

If your fiance makes more than you he should take the deduction for your daughter and he should file as Single Head of Household. It clearly seems that he would qualify. You will be filing as single.

This would create the lowest tax liability for the two of you.

Head of Household status is reserved for a single parent/guardian who has a dependent that they pay more than 50% of expenses. It is a great tax break.

Answer 7

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Answer 8

If your not legally married you can't file joint (to the best of my knowledge). If he made more money, then he probably stands to gain the most by claiming her as a dependent, not you.

Get turbo tax and figure your taxes out using her as a dependent each way to see which provides the biggest overall return. Probably the best $30 you'll ever spend;)

Answer 9

You are not married. You can not file a joint return.

There are a lot of factors in making this decison. Things such as taxes paid, if you qualify for the earned income credit and so on. What I would do is try the taxes both ways:

You as head of the household on your salary claiming your child.
Then your boyfriend the same way.
Use the one that comes out the best for you both.

Turbotax is a great product with step by step questions to help you out and they even provide free filing if you qualify at:
www.taxfreedom.com

email me if you need further help, I do a ton of taxes each year.

Answer 10

If you are married and don't file MFJ you will get caught. I have been doing taxes for 2 yrs and a recpt in a tax office for 2yrs and there are so many people that have to pay the money back plus a penalty because they were caught. It takes about 2 yrs for it to be processed, thats why they ask you not to throw anything away for 3 yrs. and if you are just dating you can't you have to file head of house and the person who made the most $$$ should take the child to get the most $$ back and the other parent has to file single. if you have any other ???'s jsut e-mail me.