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#1
02-28-2005, 06:38 PM
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 Re: Deductions allowed by dependant "Whatsthebuzz" <quoth_the_rav3n[at]yahoo.com> wrote - quote - > I have a big problem. I claim my son as my dependant and
He can make an IRA contribution. Other than that, probably> have already filed. He's a college student and he works. He > got a new job in July and a month into it, he called and > changed his exemptions to 'single, zero'. They mistakenly > listed him as 'exempt' so there were no federal taxes taken. > I need to know if there are any little known deductions I > can use on his tax forms to possibly get his liability to > zero. Can anyone help me with this? Thank you! not. -- Paul A. Thomas, CPA Athens, Georgia taxman at negia.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-28-2005, 05:40 PM
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| Re: Deductions allowed by dependant "Whatsthebuzz" <quoth_the_rav3n[at]yahoo.com> wrote: - quote - > I have a big problem. I claim my son as my dependant and
How much did he make? Up to $4850 of earned income is wiped> have already filed. He's a college student and he works. He > got a new job in July and a month into it, he called and > changed his exemptions to 'single, zero'. They mistakenly > listed him as 'exempt' so there were no federal taxes taken. > I need to know if there are any little known deductions I > can use on his tax forms to possibly get his liability to > zero. out by his standard deduction. Have you actually calculated a return for him? If he really does have a tax liability, the education credits may help. That would require that you amend your return to get rid of his dependency exemption. (He wouldn't be able to take the personal exemption either, but he could use the ed credits.) Details about the Education provisions are in IRS Publication 970. -- Phil Marti Clarksburg, MD << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-27-2005, 01:53 PM
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| Deductions allowed by dependant I have a big problem. I claim my son as my dependant and have already filed. He's a college student and he works. He got a new job in July and a month into it, he called and changed his exemptions to 'single, zero'. They mistakenly listed him as 'exempt' so there were no federal taxes taken. I need to know if there are any little known deductions I can use on his tax forms to possibly get his liability to zero. Can anyone help me with this? Thank you! << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| allowed, deductions, dependant |
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