I normally claim 4 on my tax and when tax season come i claim 3. but now the 4 dependant are working. So when tax season can I claim just 1 so I wont have to pay back.? I claim head of household too.
2007-07-31 08:30:39 · 6 answers · asked by Laos 1 in Business & Finance ➔ Taxes ➔ United States
If the children file their own tax returns (claiming themselves), then you can't claim them. But if you provide more than half their needs (e.g., they live at home and eat at your table) then you SHOULD be able to claim them, and they must check that box on their returns thart asks "Can you be claimed as a dependent on another person's return?".
Not sure what you mean by "pay back" but in terms of tax burden, you should WANT to be able to claim as many as of them as possible. When you say "i claim 3" I guess you mean the amount of children you elect on the W-4 form, where more dependents means less tax withheld, and when you say "claim just 1" you're talking about filling out the Return. But if you report only 1 on the Return, you MIGHT wind up having to pay more tax, since they didn't hold out enough tax from each paycheck.
If you cannot claim any of them, you are not allowed to claim "head of household" so be careful.
2007-07-31 08:42:19 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you may wind up owing tax, because you won't have enough withheld. How many dependents do you have besides yourself - 3 or 4. If you have 4, claim 4. If you want to claim the dependents who are working, they can not claim themselves on their own tax returns. They should all be filing W-4 with single - 1 exemption, so they don't owe tax at the end of the year. Their deduction is worth a lot more to you than to them-tax wise
2007-07-31 08:36:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your question is a little confusing. I'm guessing you are saying that you have been claiming four allowances on your W-4, then have had 3 exemptions when you file your return. You'd have one exemption for yourself - how many others do you have, and are they your children, and how old are they?
If you claim 4 on your W-4, then just have one exemption for yourself on your actual return, you are likely to owe quite a bit - not a good idea. Also, if you don't have at least one dependent living with you, you won't be able to claim head of household any more.
Just because they (I assume your children who live with you) are working, it doesn't mean that you can't claim them any more. If any are still under 19 (or under 24 and a fulltime student), living with you, and not providing over half of their own support, you might still be able to claim them.
2007-07-31 08:40:05 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
You are going to end up paying if you can't claim what you are claiming now (4 and then only 1). What I used to do even though my child worked I would claim him , he wouldn't claim himself, just marked on the return that he could be claimed by someone else. Then I would give him the difference for what he would have gotten. That way I came out ahead and so did he.
2007-07-31 08:41:15 · answer #4 · answered by jamsterette@sbcglobal.net 4 · 0⤊ 0⤋
Yes, you can claim more people on your W-4 with your employer than you claim on your tax return.
2007-07-31 08:37:40 · answer #5 · answered by hottotrot1_usa 7 · 0⤊ 1⤋
it doesn't matter if they are working or not, it matters how much. If they are still in high school or college and making less then like 15 grand a year then you should still claim them. If they are making more then that then they should claim themselves when they file their taxes to get the most money they can from the government.
Whoever gave me a thumbs down can email me and explain why you chose to do so.
2007-07-31 08:39:05 · answer #6 · answered by Nicole 4 · 0⤊ 2⤋