Sharon
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Joined: Dec 19, 2010 22:48:11 GMT -5
Posts: 11,330
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Post by Sharon on Apr 4, 2011 20:47:14 GMT -5
My daughter earned $1759.00 last summer, she also earned $2.00 interest income on her savings account. When she filled out her W form when she started her job I had her write in "exempt", so no taxes were withheld.
Tonight we were working on the form 1040EZ and it came up that she qualified for a credit of $109.00 for making work pay. Because of this credit she would then be getting a refund of $109.00.
Does this make sense?
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Deleted
Joined: Nov 28, 2024 7:54:55 GMT -5
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Post by Deleted on Apr 4, 2011 20:57:31 GMT -5
Is she a dependent of yours?
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Sharon
Senior Associate
Joined: Dec 19, 2010 22:48:11 GMT -5
Posts: 11,330
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Post by Sharon on Apr 4, 2011 20:58:18 GMT -5
Yes. She is in high school.
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Post by commentator on Apr 5, 2011 0:04:44 GMT -5
My daughter earned $1759.00 last summer, she also earned $2.00 interest income on her savings account. When she filled out her W form when she started her job I had her write in "exempt", so no taxes were withheld. Tonight we were working on the form 1040EZ and it came up that she qualified for a credit of $109.00 for making work pay. Because of this credit she would then be getting a refund of $109.00. Does this make sense? No. People who can be claimed as a dependent do not qualify for the Making Work Pay credit.
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Sharon
Senior Associate
Joined: Dec 19, 2010 22:48:11 GMT -5
Posts: 11,330
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Post by Sharon on Apr 5, 2011 7:10:56 GMT -5
Thank you. It did not make sense that she would qualify for this.
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henryclay
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Joined: Feb 5, 2011 19:03:37 GMT -5
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Post by henryclay on Apr 5, 2011 12:12:56 GMT -5
You want to make sure she marks on her return that she is not claiming her own exemptioon. When the IRS gets a tax return with a social security number on it claiming their exemption it will cause problems if that same social security number is on another tax return that also claims it's exemption.
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mwcpa
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Joined: Jan 7, 2011 6:35:43 GMT -5
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Post by mwcpa on Apr 6, 2011 7:02:03 GMT -5
follow henry's advise.... be sure she does not claim herself and her own dependent, it will cause you havoc when you file your return claiming her as you dependent.
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