I want to take exemption for both married file jointly ($16900) and for dependent child under age 17 ($3300+$1000). What form should I fill and where do I find these exemptions on the form?
2007-02-11 08:33:58 · 5 answers · asked by alertpersons 1 in Business & Finance ➔ Taxes ➔ United States
You can file a 1040 or a 1040A - the 1040A is simpler. You can't claim a dependent on a 1040-EZ.
On the 1040A you'll check filing joint, then check yourself and your spouse for exemptions on lines 6a and 6b. Under that you'll write your child's name and social security number, and show you are taking an exemption for the child, and check the box for child tax credit. When you get to line 24 for standard deduction, enter 10,300, and enter 9900 on line 26 for the three exemptions. Follow the directions for each line.
2007-02-11 09:02:59 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
You have to file a tax return. This will be either Form 1040 or Form 1040A. Claiming married filing joint, your standard deduction is $10,300. For yourself and your spouse, you get two personal exemptions. This is $3,300 each for a total of $6,600. For a dependent child under age 17, you get one additional dependent exemption of $3,300, plus you can also claim a child tax credit of $1,000, subject to income limitations.
2007-02-11 08:46:26 · answer #2 · answered by jseah114 6 · 0⤊ 0⤋
If you are married filing jointly, you have a standard deduction of $10,300 plus an exemption for both husband and wife of $3,300 each and another $3,300 for each dependent. The $1,000 you refer to is, I assume, child tax credit which is claimed as a credit against tax paid on page 2 of the return.
The exemptions are listed on page one at line 6 and the standard deduction is at the top of page 2. The standard deduction is irrelevant if you itemize.
By the way, I do not see how you get to $16,900 in "exemptions." Do you think it would be worthwhile to engage a tax professional to do your return?
2007-02-11 08:50:05 · answer #3 · answered by skip 6 · 0⤊ 1⤋
You need to file a form 1040, you claim the dependant on the front of the return and the deductions and exemptions on the back
http://www.irs.gov/pub/irs-pdf/f1040.pdf?portlet=3
2007-02-11 08:49:13 · answer #4 · answered by Anonymous · 1⤊ 0⤋
just get turbo tax deluxe and they will step you through the forms and very accurately at that.
2007-02-11 08:38:52 · answer #5 · answered by Mon-chu' 7 · 0⤊ 1⤋