My Husband and I have an 18 year old son whom we support. He is employed. Can we still claim him as a dependent? If so, how should he file?
2007-12-27 01:38:45 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If your child lives with you for more than half the year, and he does not provide over half of his own support, then you can claim him as a dependent child. You will receive the dependency exemption. If your income qualifies, you will receive the Earned Income Credit.
If you child did not live with you for more than half the year, but you supported him, and he earned $3,400 or less, and he did not live with another close relative (such as a grandparent), then you can claim him as a dependent relative. You will receive the dependency exemption.
If your son is your dependent, he will file as single with zero exemptions. He will owe taxes on wages in excess of $5,350.
2007-12-27 02:16:07 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
If he lived with you over half the year, you can still claim him as a dependent as long as he didn't provide over half of his own support.
On his return, he'll check the box that says he can be claimed as a dependent, and won't get an exemption for himself - you'll get that. Be sure he checks that - otherwise you'll both have a ton of IRS paperwork to do to straighten it out.
2007-12-27 01:42:41 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
As long as he does not provide more than half of his own support and lived with you for more than 6 months he's still your dependent. If you can claim him on your return he must not claim himself on his.
2007-12-27 01:42:43 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋