2007-12-19 10:03:57 · 3 answers · asked by danigirl1964 1 in Business & Finance ➔ Taxes ➔ United States
If your company takes your portion of the insurance premium out of your check pretax, you get a tax break by not getting taxed on your income that pays for the insurance.
2007-12-19 10:20:37 · answer #1 · answered by jhawksports 2 · 0⤊ 0⤋
If your insurance plan is a pre-tax Section 125 plan (most are) you're already getting a break for the insurance. As long as he does not pay more than half of his own support, you can still claim him as a dependent so you'll get a break there as well.
2007-12-19 19:45:19 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If your company is allowing you to claim him as a dependent (eg, the insurance is pretax), then you had better be able to claim him as a dependent on your 1040.
As a full time student, the only real question would be if he supports himself or not.
2007-12-19 18:22:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋