princessleia
Established Member
Joined: Jan 23, 2011 21:13:41 GMT -5
Posts: 266
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Post by princessleia on Apr 16, 2011 8:16:50 GMT -5
maybe she is referring to the child tax credit??? Under 17 would apply.
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princessleia
Established Member
Joined: Jan 23, 2011 21:13:41 GMT -5
Posts: 266
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Post by princessleia on Apr 16, 2011 8:53:24 GMT -5
Thank you....
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Post by lulubean on Apr 16, 2011 9:36:20 GMT -5
Just did mine yesterday and I was allowed to claim mine, DS turns 19 in may so this will be the last year So it would seem as stated above that it was the child tax credit thing.
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Deleted
Joined: May 2, 2024 19:16:56 GMT -5
Posts: 0
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Post by Deleted on Apr 16, 2011 10:19:21 GMT -5
I think it goes more like this:
Income: 100,000 Standard deduction: -11,400 Exemptions for 6: -21,900 Taxable income: 66,700 Tax before credit: 9,171 Child tax credit: -2000 Making work pay credit: -800 Tax liability: 6,371
That is assuming that there isn't anything else, like 401K, FSA, or tuition.
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Knee Deep in Water Chloe
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Joined: Dec 27, 2010 21:04:44 GMT -5
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Post by Knee Deep in Water Chloe on Apr 16, 2011 12:24:54 GMT -5
Our accountant wouldn't let us claim our older two ages 20 and 22. The 20 year-old lived with us eight months of 2010. He didn't attend school at all, so she said we couldn't claim him. The 22 year-old goes to school, but we moved over the summer. He stayed at school in an off-campus apartment. We didn't pay the expenses for the apartment, so the accountant said we couldn't claim the 24 year-old. This did not go well for how I planned for our paycheck withdrawals. I do that horrible thing in which I use the IRS and State as a savings account. I planned to get $4000-$5000 refunded (we have two rentals also). However, we only got $1800 refunded.
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telephus44
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Joined: Dec 23, 2010 10:20:21 GMT -5
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Post by telephus44 on Apr 16, 2011 19:22:05 GMT -5
My parents claimed me as a dependent while I was a college student. You are right that being a dependent doesn't automatically end at 17, although there are other conditions you need to fulfill to qualify.
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