i want to know if we both can claim him as our dependant since we are filling separate. can somebody with knowledge in this field give me some advice, or will i be better off going toone of those tax filling places?
2007-01-27 13:32:50 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You cannot both claim the child as a dependent. But, one of you can claim the child as a dependent, and the other can claim the child only for the Earned Income Credit. Sometimes, splitting these benefits results in a greater overall refund.
Try this:
1. Figure the Earned Income Credit for each parent by looking up each income in the EIC table here:
http://www.irs.gov/pub/irs-pdf/p596.pdf
The parent who gets the higher EIC should claim the child for EIC.
2. Next, the parent with the higher income should claim Head of Household, the dependency exemption for the child, and get any child tax credit/additional child tax credit that is possible.
If the same parent is identified in 1 and 2, then that parent should just claim the exemption and EIC, and the other parent should file single with no dependents. Otherwise, split the benefits and get a greater refund.
2007-01-27 13:53:48 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
Two people can never claim the same dependent. Since you are both parents of the child, either of you can claim the baby, so you need to figure out which one it would benefit most. The person who claims the baby should be able to file as head of household, the other will file single. The person filing as head of household needs to have paid more than half of the expenses of maintaining the household for the year.
If you both try to claim the same dependent, the IRS will catch it since there will be two returns with the same social security number as a dependent, and will contact both of you for proof that you were the one who should have claimed - the other one will have to pay back the extra money with interest, and possible penalties.
2007-01-27 21:43:39 · answer #2 · answered by Judy 7 · 3⤊ 1⤋
Filing separate returns, only one of you can claim the baby as a dependent.
2007-01-27 21:40:57 · answer #3 · answered by Shaula 7 · 1⤊ 0⤋
No, only one of you can claim him.
2007-01-27 21:41:43 · answer #4 · answered by isuzibuzi 2 · 1⤊ 0⤋