Tax Question

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JDMPlaya

JDMPlaya

Senior Member
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
 
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..
 
whoever made less money should claim him.
Click to expand...

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
 
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...
 
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)
 
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...

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




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.
Click to expand...

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....
 
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