2007-12-21 15:29:28 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I mean what would my mom get if SHE is the one that works and SHE earns $30,000 and she claims me as a dependent? how much would she get back...if she files as head of household..THANKS
2007-12-21 15:51:11 · update #1
and no she does not pay for my college just basic needs house over my head and food
2007-12-21 15:51:47 · update #2
She gets an additional $3400 for this year subtracted from her AGI. This could result in a tax savings of $300-850 for the year, depending on other factors.
2007-12-23 13:58:47 · answer #1 · answered by darkridr 6 · 0⤊ 0⤋
Whether or not you are still a dependent will depend upon what you did with that $30,000. If you used it for your own support it's very likely that you provided more than half of your own support and would no longer be a dependent even if you were in school. Of course, if Mom and Dad are paying for a Harvard education for you, that may not be the case at all.
You WILL have to file a return with that much income. Whether or not you can still be claimed as a dependent by your parents is something you will have to crunch the numbers on with them. There are worsheets in IRS Pub 501 for exactly that purpose.
Addendum: There's no way to answer your question from the minimal information provided. Would need to know everyone's income, what it was spent on, how much income tax was withheld, among other things.
2007-12-21 23:40:05 · answer #2 · answered by Bostonian In MO 7 · 2⤊ 0⤋
Your mom can't claim you as dependent Child as you are over 19. You are not full time student, then the age limit is 24.
Your mom can't claim you as dependent Relative as you earned more than $3,400.
If during 2007 you made less than $3,400 and your mom provided more than half of your support, yes she can claim you a dependent.
2007-12-24 06:31:55 · answer #3 · answered by MukatA 6 · 0⤊ 0⤋