My husband and I normally file taxes separately every year. We just had a new baby this month and don't know who should get the tax exemption on the w-2. He makes more money than I. Also, I have another daughter from a previous relationship that I already use for an exemption.
2007-09-08 12:52:32 · 7 answers · asked by Lisa 1 in Business & Finance ➔ Taxes ➔ United States
The employer gives you your W-2 - nobody claims the child there.
If you are talking about your W-4, the form you fill out for your employer, then whoever is going to claim her on their tax return should also claim the allowance on their W-4 form. Usually that would be the person who makes more money, if you file separately instead of a joint return.
I assume there is some reason why you file separately. Since you are married, neither of you is allowed to file as single or as head of household, and you would both have to file as married filing separately. That will cost more in total taxes for the two of you unless one of you has very high medical expenses or unreimbursed employee business expenses. The difference might only be a few dollars compared to a joint return, but might be much more. And if you file separately there are many credits you are not allowed to take, such as EIC and child care credits.
On a joint return, you would file together and claim both children as dependents. Figure it both ways, separate and joint, then file however makes the most sense. If your separate returns result in less tax, and neither of you has high itemized deductions for medical or unreimbursed employee expenses, then you're doing something wrong.
2007-09-08 13:21:36 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
You or husband may claim the child. It is up to the custody/divorce agreement between you and your pervious partner to decide who will claim your daughter from the previous relationship.
Dont forget the dependent care credit.
Perhaps Married Filing Joint may save you more money then Married Filing Seperately. It may be in your best interest to contact a CPA. I know several good CPAs if you would like to contact me.
Good luck,
2007-09-09 01:05:11 · answer #2 · answered by glaciergizzlybear 2 · 0⤊ 0⤋
If you're divorced the soul contributor to the child, is to be the one claiming the child,
but if you are married, it would give you both more to file "married filing jointly" no matter how much he makes.
2007-09-08 16:05:33 · answer #3 · answered by AnnaMaria 7 · 0⤊ 0⤋
Figure it out both ways...it only takes a minute more...let whomever would benefit more take the exemption.
2007-09-08 12:58:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You should file married there more take break for you. You guys will get more in the long run.
2007-09-08 12:59:27 · answer #5 · answered by randall m 2 · 0⤊ 0⤋
for my area I dont think of its precise on your husband to declare issues like that... what's he gonna say to Peyton while Lucas says "Dad informed me i replaced into the fashionable anyhow!" Or something alongside those strains,and then she asks why? i think of its in effortless terms slightly. while he says he hates her,you ought to declare "properly she loves you" Thats what we had to do to my brother a loooong time in the past,because of the fact he went by means of the comparable factor. sturdy success hun
2016-12-16 15:08:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
usually whoever has the highest income, because they benefit the most.
2007-09-09 11:08:41 · answer #7 · answered by Anonymous · 0⤊ 0⤋