I am a stay at home mom but i had a law suit settle and a lotto claim. We have 3 kids is there a way to claim my new born, my settlement and lotto winnings. or do i have to file married/joint and my husband claim everything? is there a web site i can get this info from?
2007-11-29 05:45:46 · 2 answers · asked by dixiedarlin 3 in Business & Finance ➔ Taxes ➔ Other - Taxes
If you file a joint return, it isn't your husband claiming everything, you are filing together and claiming everything together. You are allowed to each file as married filing separately, but that would almost surely end up costing you more tax total between you than filing a joint return.
Depending on what the lawsuit settlement is for, it might or might not be taxable, or have to be reported. You don't give enough info on that.
The lotto winnings are definitely taxable.
Congratulations on the newborn baby.
2007-11-29 06:12:20 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
The IRS website might help, if you are talking US taxes.
Perhaps a talk with an accountant will help as well.
2007-11-29 13:53:00 · answer #2 · answered by Anonymous · 0⤊ 0⤋