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JDMPlaya · 01-29-2006, 11:02 PM

okay my girl and I were talking about filing our taxes soon, last year we had a son..we don't know who should claim him.

should the person with a bigger income claim him?

I know nothing about taxes, so let me know how i can get the most money,lol

TurboMirage · 01-29-2006, 11:03 PM

whoever made less money should claim him.

www.taxslayer.com

JDMPlaya · 01-29-2006, 11:08 PM

i'll check that out.. I have turbo tax. i haven't used it before tho

than I can claim myself & head of household right? since she claims him

oh yea and im not married if that makes a difference..

reckedracing · 01-30-2006, 09:51 AM

<div class='quotetop'>QUOTE</div><div class='quotemain'>whoever made less money should claim him.[/b][/quote]

uh...
you;re probably better off claiming him if you had a higher income

you can no longer split the child ie: head of household and she takes the child...

i would need to actually run the numbers to see which way would get you more money back but i'm guessing you will get more of your with-holdings back as compared to her getting the EIC

TurboMirage · 01-30-2006, 10:17 AM

i was just thinking whoever made less would get more back this way.

reckedracing · 01-30-2006, 10:27 AM

a single person claiming a child can get 2662 via the EIC from the feds...

my friend just went through this...
yearly income of approx 35K, refund = approx 3600+
and then more from the state...

JDMPlaya · 01-30-2006, 11:24 AM

okay.. so whoever made more should claim him?

im kinda confused.. im sure she will get the EIC

whats a 2662?

So I'll be able to claim myself and my kid,

She'll claim her self and thats it and get EIC?

hows that work? how much is EIC? Does it flucuate (sp)

reckedracing · 01-30-2006, 11:28 AM

2662 is the amount in $ for the EIC of a single person claiming one child...

if she is over 25 and made less than 11,750 then she can file for the EIC but will only get 50 bucks without claiming the child...

<div class='quotetop'>QUOTE</div><div class='quotemain'>okay.. so whoever made more should claim him?[/b][/quote]
it depends...
whoever made more will probably get more money back if they claim the child...

you can not claim head of household and have her claim the child for the EIC...

if you claim HOH, you need to list a dependant...
if she claims EIC with one child, she must list the child as a dependant...

2 people can not claim the same child...
new laws for 2005

hows that work? how much is EIC? Does it flucuate (sp)
of course if does...

pissedoffsol · 01-30-2006, 11:35 AM

jsut do it both ways. it takes all of 5 min to plug in some numbers following the forms

JDMPlaya · 01-30-2006, 11:46 AM

okay so basically I just claim myself, and she claims our son.. right, and thats pretty much it?

reckedracing · 01-30-2006, 11:51 AM

are you high or something?

who made more money???

you or her?

JDMPlaya · 01-30-2006, 11:57 AM

lol, no sorry i just woke up..

i made more money

reckedracing · 01-30-2006, 12:07 PM

ok...
you made more money

then YOU should claim your child...

i would still do the tax returns both ways just to double check, but you as a couple will prob get more money back from the gov't if you claim HOH and EIC, as well as claiming your child as a dependant...

<div class='quotetop'>QUOTE</div><div class='quotemain'>Qualifying Child of More Than One Person
Sometimes a child meets the rules to be a qualifying child of more than one person. However, only one person can treat that child as a qualifying child for:

The EITC,
The dependency exemption,
The child tax credit,
Head of household filing status, and
The credit for the child and dependent care expenses.
You can choose which person will claim the benefits including the EITC. If you and someone else have the same qualifying child, you and the other person(s) can decide which of you, if otherwise eligible, will claim the benefits including the EITC, using that qualifying child. If more than one person claims the EITC and any of the other tax benefits listed above using the same child, the tie-breaker rules below apply. If the other person is your spouse and you file a joint return, these rules do not apply. [/b][/quote]

in the past the best way to file for single parents was for the father to claim head of household with one exemption, and then the mother would file for the EIC claiming the child...

the IRS changed the rules this year, so if the father wants the extra deduction for HOH, then he must also claim the child for the EIC...

the mother can still file for the EIC if she was over 25 and made less than 11.7K, but she'll only get 50 bucks because she is not claiming the child....

01-29-2006, 11:02 PM	#1
JDMPlaya Senior Member Join Date: Aug 2003 Location: Columbus, OH Age: 23 Posts: 1,792 iTrader: 0 / 0% Ride: 2007 Camry / 2005 Acura MDX Rep Power: 30	okay my girl and I were talking about filing our taxes soon, last year we had a son..we don't know who should claim him. should the person with a bigger income claim him? I know nothing about taxes, so let me know how i can get the most money,lol __________________ 2007 Camry XE 2005 Acura MDX Touring Edition

01-29-2006, 11:03 PM	#2
TurboMirage Running on two cylinders Join Date: May 2003 Location: Southbridge, MA Age: 25 Posts: 18,155 iTrader: 1 / 100% Ride: 2000 Mitsubishi Lancer RPW E5 Coupe Rep Power: 338	whoever made less money should claim him. www.taxslayer.com __________________ Home of the RPW built 2000 Lancer CC Coupe. See what is done to the little Evo5. "If you don't like what I've done with my car, I will gladly refund all the money you put into it."

01-29-2006, 11:08 PM	#3
JDMPlaya Senior Member Join Date: Aug 2003 Location: Columbus, OH Age: 23 Posts: 1,792 iTrader: 0 / 0% Ride: 2007 Camry / 2005 Acura MDX Rep Power: 30	i'll check that out.. I have turbo tax. i haven't used it before tho than I can claim myself & head of household right? since she claims him oh yea and im not married if that makes a difference.. __________________ 2007 Camry XE 2005 Acura MDX Touring Edition

01-30-2006, 09:51 AM	#4
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 411	<div class='quotetop'>QUOTE</div><div class='quotemain'>whoever made less money should claim him.[/b][/quote] uh... you;re probably better off claiming him if you had a higher income you can no longer split the child ie: head of household and she takes the child... i would need to actually run the numbers to see which way would get you more money back but i'm guessing you will get more of your with-holdings back as compared to her getting the EIC __________________ I'll blow a hole in your face then go inside and sleep like a baby.

01-30-2006, 10:17 AM	#5
TurboMirage Running on two cylinders Join Date: May 2003 Location: Southbridge, MA Age: 25 Posts: 18,155 iTrader: 1 / 100% Ride: 2000 Mitsubishi Lancer RPW E5 Coupe Rep Power: 338	i was just thinking whoever made less would get more back this way. __________________ Home of the RPW built 2000 Lancer CC Coupe. See what is done to the little Evo5. "If you don't like what I've done with my car, I will gladly refund all the money you put into it."


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01-30-2006, 10:27 AM	#6
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 411	a single person claiming a child can get 2662 via the EIC from the feds... my friend just went through this... yearly income of approx 35K, refund = approx 3600+ and then more from the state... __________________ I'll blow a hole in your face then go inside and sleep like a baby.

01-30-2006, 11:24 AM	#7
JDMPlaya Senior Member Join Date: Aug 2003 Location: Columbus, OH Age: 23 Posts: 1,792 iTrader: 0 / 0% Ride: 2007 Camry / 2005 Acura MDX Rep Power: 30	okay.. so whoever made more should claim him? im kinda confused.. im sure she will get the EIC whats a 2662? So I'll be able to claim myself and my kid, She'll claim her self and thats it and get EIC? hows that work? how much is EIC? Does it flucuate (sp) __________________ 2007 Camry XE 2005 Acura MDX Touring Edition

01-30-2006, 11:28 AM	#8
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 411	2662 is the amount in $ for the EIC of a single person claiming one child... if she is over 25 and made less than 11,750 then she can file for the EIC but will only get 50 bucks without claiming the child... <div class='quotetop'>QUOTE</div><div class='quotemain'>okay.. so whoever made more should claim him?[/b][/quote] it depends... whoever made more will probably get more money back if they claim the child... you can not claim head of household and have her claim the child for the EIC... if you claim HOH, you need to list a dependant... if she claims EIC with one child, she must list the child as a dependant... 2 people can not claim the same child... new laws for 2005 hows that work? how much is EIC? Does it flucuate (sp) of course if does... __________________ I'll blow a hole in your face then go inside and sleep like a baby.

01-30-2006, 11:35 AM	#9
pissedoffsol RETIRED Join Date: Sep 2002 Location: Retirement Home Age: 29 Posts: 49,951 iTrader: 2 / 100% Ride: Electric Scooter Blog Entries: 1 Rep Power: 531	jsut do it both ways. it takes all of 5 min to plug in some numbers following the forms

01-30-2006, 11:46 AM	#10
JDMPlaya Senior Member Join Date: Aug 2003 Location: Columbus, OH Age: 23 Posts: 1,792 iTrader: 0 / 0% Ride: 2007 Camry / 2005 Acura MDX Rep Power: 30	okay so basically I just claim myself, and she claims our son.. right, and thats pretty much it? __________________ 2007 Camry XE 2005 Acura MDX Touring Edition

01-30-2006, 11:51 AM	#11
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 411	are you high or something? who made more money??? you or her? __________________ I'll blow a hole in your face then go inside and sleep like a baby.

01-30-2006, 11:57 AM	#12
JDMPlaya Senior Member Join Date: Aug 2003 Location: Columbus, OH Age: 23 Posts: 1,792 iTrader: 0 / 0% Ride: 2007 Camry / 2005 Acura MDX Rep Power: 30	lol, no sorry i just woke up.. i made more money __________________ 2007 Camry XE 2005 Acura MDX Touring Edition

01-30-2006, 12:07 PM	#13
reckedracing TTIWWOP Join Date: Dec 2002 Location: 845 Area, NY Age: 29 Posts: 15,381 iTrader: 0 / 0% Ride: 90 z6-t hatch, 94 Bagged S10, 91 Lifted Mazda Rep Power: 411	ok... you made more money then YOU should claim your child... i would still do the tax returns both ways just to double check, but you as a couple will prob get more money back from the gov't if you claim HOH and EIC, as well as claiming your child as a dependant... <div class='quotetop'>QUOTE</div><div class='quotemain'>Qualifying Child of More Than One Person Sometimes a child meets the rules to be a qualifying child of more than one person. However, only one person can treat that child as a qualifying child for: The EITC, The dependency exemption, The child tax credit, Head of household filing status, and The credit for the child and dependent care expenses. You can choose which person will claim the benefits including the EITC. If you and someone else have the same qualifying child, you and the other person(s) can decide which of you, if otherwise eligible, will claim the benefits including the EITC, using that qualifying child. If more than one person claims the EITC and any of the other tax benefits listed above using the same child, the tie-breaker rules below apply. If the other person is your spouse and you file a joint return, these rules do not apply. [/b][/quote] in the past the best way to file for single parents was for the father to claim head of household with one exemption, and then the mother would file for the EIC claiming the child... the IRS changed the rules this year, so if the father wants the extra deduction for HOH, then he must also claim the child for the EIC... the mother can still file for the EIC if she was over 25 and made less than 11.7K, but she'll only get 50 bucks because she is not claiming the child.... __________________ I'll blow a hole in your face then go inside and sleep like a baby.

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