How do I do my taxes and claim her?? We got her a place close to her school, but I want to claim her on my taxes,can I? Will she have to file her own because she works part time? We have no state taxes, this is just federal and also her financial aid will be under me..
2007-07-28 12:28:52 · 6 answers · asked by Rosie 4 in Business & Finance ➔ Taxes ➔ United States
Previous answers are all fine. Absences to attend school do not count as time away from home. You just file your return as you did before, you claim her as a dependent, indicating that she lived with you 12 months.
Your daughter will file a tax return, probably a 1040EZ, and she will not claim herself. She will get a standard deduction of $5,350 but no exemption because you are claiming her. If she earns more than $5,350 she will owe some tax but will get a refund of the taxes withheld on the first $5,350 of her income.
I also want to mention that you should investigate the tuition credits and deductions that may be available to you, since you are supporting your daughter and may be paying educational expenses. Here is the IRS publication on tax benefits for education:
http://www.irs.gov/pub/irs-pdf/p970.pdf
2007-07-28 20:22:27 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
1st, you'd have to determine whether or not she's your qualifying child in IRS terms. That means she must be in college full time and under the age of 24 at some time during the tax year, you must pay for more than half of her living expenses, and the important one...if she is absent from living under your roof for any period of time, it must be temporary. Living on a college campus, or sharing an apartment during the school year, would be considered temporary...but I'm not so sure about her living in her own home. Does she plan on continuing to live there during the summer and over breaks? I'd definitely ask the IRS about this one...because she probably uses her new address as her address with her job, which means when she files taxes, that address is going to appear as her permanent address on her W9...and since her job's paying in a portion of her Social Security taxes, that's the address they'd report to the SSA. You'll probably be able to claim her, but if you're not sure, I'd definitely contact a professional.
2007-07-28 20:41:40 · answer #2 · answered by Madre 5 · 1⤊ 0⤋
Depending on how much she makes, she might or might not have to file a return. For 2006, the limit would have been $5150 for her to have to file - it's a little higher for 2007 but I don't remember the exact number.
As long as she doesn't provide over half of her own support, you can still claim her as a dependent. She should file her return noting that she can be claimed as a dependent - if she files a 1040EZ, she'd check the "YOU" box on line 5.
2007-07-28 19:43:24 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
Unless she is providing more than half of her own support you can still claim her. If she has income she can file a return and not claim her own exemption. Normally her exemption will mean a great deal more to you than her as she will be in a much lower tax rate.
2007-07-28 19:38:34 · answer #4 · answered by ? 6 · 2⤊ 0⤋
As long as she is paying less than half of her own support then you still claim her as a dependent. Once she turns 19 you still get the exemption as long as she is a full time student and is not providing more than half of her own support. Her income itself doesn't matter as much as what she spends it on. If she saves it or parties it away, that's not paying her own support. Temporary absences from home to attend school count as time spent at home for the residence requirement of living in your home for more than half of the year.
2007-07-28 19:41:08 · answer #5 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Visit the IRS site to see if this is possible. http://www.irs.gov
2007-07-28 19:38:08 · answer #6 · answered by Twisted Maggie 6 · 0⤊ 3⤋