If all US residents were to band together and adopt one another as their legal immediate family member, how could one file a tax return that will be beneficial to all?
2007-04-24 21:37:12 · 2 answers · asked by samxli 2 in Business & Finance ➔ Taxes ➔ United States
It wouldn't benefit anyone unless one person could prove that he or she provided at least half of the support for all of the other people.
Sandy
2007-04-24 21:42:14 · answer #1 · answered by Sandy M 5 · 2⤊ 0⤋
To add to Sandy's excellent answer, ONE person would get 300,000,000 exemptions and the rest of us would get none since if you are claimed as a dependent you can't claim an exemption for someone else, even yourself.
Since that person would need everyone's name and SSN, it would take about 10 years just to prepare the tax return if he or she could punch in one name and SSN per second. At a more realistic 10 seconds per exemption, it would take 100 years working 24/7 to prepare the return.
2007-04-25 07:55:19 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋