![]() |
|
| *Loan,banking and credit>>>child tax |
How much do parents get back for claiming children on their income taxes? |
Does it vary from stat to state; my parents live in Fla. I am an adult (24) an my mother wants to claim me, I guess she is going to get a certain amount back and I am interested in knowing just how much. Does the amount increase or decrease according to age? I think she is lying to me about the amount. At 24, a person is not usually a dependent unless they are mentally challenged or have been in school continuously. She can claim "head of household" if you live with her and she pay more than half the bills. (I'm not sure the actual percentage.) Check the IRS website for details. http://www.irs.gov First off there is no state tax in florida. So all you have to do is look at the 1040 to see what the deductions are for a 24 year old. How much does she contribute to your support each year? I am pretty sure it is right around the $2,500 mark. That's what it was around last year at least. If you are receiving less than half your financial support or have lived less than half the year under her roof though, it's illegal. There are strict guidelines for determining who is and is not a legal dependent. It is illegal for your mother to claim you if you do not qualify as a dependent according to the IRS. You should be filing your own income taxes. Tell your mom she should have her taxes done by a professional so she doesn't get in trouble with the IRS. Too much. And if you are working and claiming yourself she cant claim you, that's illegal. I dont think parents should get tax breaks for freaking kids. I don't think that she can, because of the tax rules at 24 you are not considered a dependent unless you are in college, or you are not able to take care of yourself. However if she did she wouldn't get anything back it would just lower the amount of tax she would owe. A lot of people think that the IRS gives you money, a tax refund is only the excess money you paid in. Hope this helps. |
| Tags |
| tax year income tax business tax car tax child tax cigarette tax corporate tax estate tax import tax inheritance tax |
SiteMap--Copyright/IP Policy--Contact Webmaster For personal non-commercial use only. |