We live in michigan, but Im wondering about the federal portion of our taxes. Is it legal for one, and second would it be better (meaning getting more money back) for us to each claim one of the children, seeing as how we are not married?
We also both live together and claim 0 dependants.
2007-10-15 14:03:45 · 8 answers · asked by Jules S 1 in Business & Finance ➔ Taxes ➔ United States
We also claim 0 because we want as much in taxes taken out as possible so we can get more back at tax time. Makes it easier to pay those property taxes :D
2007-10-15 14:21:14 · update #1
and yes, my fiance can claim our children, he has in the past.
2007-10-15 14:36:09 · update #2
Assuming that the children as biologically his, and, as you say, the two of you live together, and assuming that the two of you together support the child, then yes, he can legally claim one or both of them.
The best way to do it is to do both of your tax returns 3 times: Once with no children, once with one child, and once with both children. Then take a look at the combined refunds/balances due. If he claims one and you claim one, what does the combined total look like? If he claims both of them, and you don't claim any, what's the total? And if you claim both and he claims... well, you see what I'm getting at. It might be best for you to go in and sit down with a tax professional, at least for one year, and learn a little bit about how that all works, and how it will affect each of you and why.
Hope this helps!
2007-10-17 00:05:57 · answer #1 · answered by Katie Short, Atheati Princess 6 · 0⤊ 0⤋
The fact that he claimed them in the past doesn't make it legal - the rules changed a few years ago, and if he isn't their biological father he can't legally claim them - if he has for the past couple years, he could still get caught for claiming them illegally and have to pay back any tax benefits he got from claiming them. The IRS has really been investigating and cracking down recently on illegal claims of dependents.
If he IS their biological father, then he can claim them legally. Depending on your circumstances, you might get more money back if you each claim one of them, or it might not matter.
2007-10-16 03:26:51 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
It is illegal for two people to claim one child.
If you mean, can each of you can claim a different child, that would be legal if it is his kid as well, but there would be no extra tax benefit of dividing up the kids.
I am confused, since you said you claim 0 dependents. Isn't your child a dependent?
2007-10-15 21:13:43 · answer #3 · answered by love 6 · 0⤊ 1⤋
It does not matter whether the kids are his or not, as long as he provided support and they lived with you, you can split the kids up however it is most beneficial.
ex- he could file head of houshold and claim 1 child and get the credits and exemptions, and if you qualify for the earned income credit (with 1 child I belive its under around 32000, not totally sure on the number right now) he could take it. Then you could file single and claim the other child and get the earned income credit with that child too. Try it each way and see which gets you the most money.
2007-10-16 00:58:47 · answer #4 · answered by Anonymous · 0⤊ 2⤋
If your goal is to get a bigger Earned Income Credit-watch out! This is plan is wrong and could result in serious IRS penalties. You can't trade off kids and each claim Head of Household in the same house.
2007-10-16 00:47:21 · answer #5 · answered by exirsman 5 · 0⤊ 1⤋
If the children are also his-biologically-then yes you can each take one. He cannot however take as a dependant a child that is only yours. Only ONE of you can file as Head of Household though.
2007-10-15 22:36:03 · answer #6 · answered by ? 5 · 0⤊ 0⤋
Sorry, you have to be married.
Your boyfriend can never claim either of your children as long as your children qualify as yours.
Before 2006, he could have claimed one or both (or you) and filed "head of household", but the first test of "qualifying relative" now disqualifies him.
2007-10-15 21:28:13 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Try doing the returns both ways to see which gives you the largest refund.
2007-10-15 21:12:32 · answer #8 · answered by Diane M 7 · 1⤊ 0⤋