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especially how much do i have to donate before claiming, me and mmy husband are army and we have bought things for work, can we claim those items? i pay for child support to my ex husband and he "wont let me" claim our son, ever! can i claim him or only his father can? We have joint custody also.

2007-12-09 04:44:35 · 4 answers · asked by gijoesjane1 1 in Business & Finance Taxes United States

4 answers

Unless you have $10,000 in deductions, it will not pay you to itemize. That means you need a really high mortgage (interest) or high medical. The standard deduction is usually quicker and gives you more of a return.

You also need to know combat pay is not taxable.

There are two ways a child can be claimed. If he lived with you for more than six months of the year, you can claim him for the earned income credit even when you can't claim him as a dependent.

If your child lived with your ex more than six months of the year, you cannot claim him under the earned income credit and you can't claim him as a dependent without your ex's consent.

Charitable donations will NOT be a way to save on taxes unless you itemize. (see the first paragraph)

Since you have health insurance through the government, you can't shelter some money by setting up a health savings account.

2007-12-09 05:01:20 · answer #1 · answered by loryntoo 7 · 1 0

For an explanation of what you can claim, read through the instructions for form 1040 including instructions for schedule A - download at irs.gov

You get a standard deduction on a joint return of $10,700 for 2007 - the number generally goes up every year. Unless your itemized deductions, including donations, is more that that, you get no benefit from making donations. If you itemize, then you get credit from the first dollar of donations, but be aware it isn't at the original cost if it's items rather than cash, it's the current used fair market value of the items - e.g. what they would sell for at a flea market or thrift shop. There are special rules for some items, like cars.

Things you bought for work - you might be able to claim them, but again only if you itemize. And you'd have to subtract 2% of your total adjusted gross income first, and could only claim the amount over that.

Child support is never deductible. You say you have joint custody - is that joint LEGAL custody or joint PHYSICAL custody? If your son spends more nights during the year with his dad than with you, then his dad can claim him, and you only can if his dad lets you - it has nothing to do with the amount of child support you pay.

2007-12-09 13:42:02 · answer #2 · answered by Judy 7 · 0 0

You can read some answers for your questions from IRS.GOV website, since there are lots of information that may apply to your specific situation. if your hubby is/was in combat zone, the combat pay is not taxable.

Generally, if your ex-husband waves his right to claim the dependent exemption ($3400 for 2007) by signing Form 8332- Release of Claim to Exemptionfor Child of Divorsed and Separated Parents, you can claim the dependency exemption. However it really depends on your situation. Your divorce attorney may be able help you of ex husband signing on the form 8332. Read IRS Publication 504 for more information.

" Divorce decree or separation agreement made after 1984. If the divorce decree or separation agreement went into effect after 1984, the noncustodial parent can attach certain pages from the decree or agreement instead of Form 8332. To be able to do this, the decree or agreement must state all three of the following.

The noncustodial parent can claim the child as a dependent without regard to any condition, such as payment of support.

The custodial parent will not claim the child as a dependent for the year.

The years for which the noncustodial parent, rather than the custodial parent, can claim the child as a dependent.

The noncustodial parent must attach all of the following pages of the decree or agreement to his or her return.
The cover page (write the other parent's social security number on this page).

The pages that include all of the information identified in items (1) through (3) above.

The signature page with the other parent's signature and the date of the agreement.


Children of Divorced or Separated Parents
A dependent is either a qualifying child or a qualifying relative. In most cases, because of the residency test (see item (3) under Tests To Be a Qualifying Child in Table 3), a child of divorced or separated parents will qualify as a dependent of the custodial parent under the rules for a qualifying child. However, the noncustodial parent may be able to claim the exemption for the child if the special rule (discussed next) applies.

Special rule for divorced or separated parents. A child will be treated as the qualifying child or qualifying relative of his or her noncustodial parent if all of the following apply......................please check below link of IRS Pub 504, for more info

2007-12-09 14:25:55 · answer #3 · answered by Q 3 · 0 0

visit IRS website: www.irs.gov and read up on all the information and refer to the publications.

2007-12-09 15:05:15 · answer #4 · answered by Ms. Angel.. 7 · 0 0

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