A little tax help

This is my first year of having a child who works. I'm going to claim her as my dependant. I know she has to file her own return, but will she get her refund?

 

I would think so, she earned the income, right?

 

Yes. She works a lot.

 

how much did she earn? ps im a cpa

 

Not sure of that but she figured she would get back about $450. She lives with her mother.

 

she doesn't get an exemption for herself on her return if she was claimed as a dependent on another's return

 

Thanks for the help. Daughter isn't too happy. She isn't getting back as much now.

 

If he is claiming his daughter as a dependent, should she claim 0 (zero) on her W4 ?

 

What my Mom used to do for me when I was living at home was work up what I would get back on my own then she would claim me and then once she got her return give me the difference. That way I got the same as if I claimed myself and she got more than what she would have if she didn't claim me. It was a win win situation.

 

I think it also depends if she is still in school, one of you only can claim her.
School includes going to college even if over 18 which I think enters into it
also.

 

I'll give you the answer to ALL tax questions, it depends.

Whether or not she will be eligible for a refund depends on a few things. How much did she earn? The standard deduction is $6,100 for 2013. So if she earned less than that, then she can be refunded any Federal tax withheld, as indicated on her W-2. However, Social Security and Medicare tax has no bearing on the return or refund, except for high income taxpayers. If she has any investment income that will complicate things a little.

Also, make sure your daughter meets the requirements to be claimed as your dependent if she is older.

Short answer, file the return.:TU:

She will likely need to file a IL return as well.

 

BINGO! And don't think that the IRS will not check.

 

I was afraid the ex already claimed the kids. My daughter is 17 and a senior. At one time she was bringing home $100 less than me. I make $11 more an hour.

 

Isn't there a legal condition for which parent gets to claim kids on tax returns?

 

I get to claim the odd years. Spelled out very clearly in our divorce documents. Daughter just told me she made almost $8200.

 

this is an Illinois organization offering free Tax help, most of the locations are in the Chicagoland area but I do see a number listed you might be able to call and see what they can offer over the phone.

http://www.goladderup.org/home.php 1-312-409-1555

 

Johnny,
that is what we did with our daughters back when. They are 24 and 22 now, both married so we do not have to work that angle anymore. I remember having to do a side by side comparison with both girls on why we should claim them as dependents! For some reason they thought mom and dad were hosing them.ou: