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| *Loan,banking and credit>>>child tax |
Should Child support help me out on my taxes? |
I do not claim the child as a dependant, but should I still see some kind of benefit when I file my taxes? I gave this info to my accountant and he told me that It wouln't do any benefit for me. I was puzzled...So can someone help me! Your accountant is correct. There is no credit/deduction for you for the child support you have paid. Furthermore, this is non-taxable income to the recipient who will most likely be claiming the child as a dependent. Nope. Child support is not deductible. Alimony is, though. go figure. Tough luck. wish I had better news. Experienced tax preparer If you claim a dependant you will get more in your pay check, but you will have to pay more or get less back in your tax return. I have always heard that Yes if you pay Child Support you can claim what you have paid in. You cannot claim the Child as a dependant if the Mother has Primary Custody and claiming him also. Child support does not get you a tax deduction, in the same way that receiving child support is not deemed taxable income. The common deductions you can receive for children are if you are paying child care directly to a licensed child care provider, and of course if you are claiming the child as your dependent. Paying child support has no benefit.I have been paying for 8 years and have never been able to put him down as a dependent.Sorry,but there is nothing you can do!Good luck |
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