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#2
03-07-2005, 10:45 AM
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 Re: Claiming kids as dependants "Mike" <mhmain[at]hotmail.com> wrote: - quote - > I recently had a son 6 months ago, every month we get the
Yes, the child is still your dependent on your T-1 return> CCTB (Canadian CHild Tax Benefit. My question is this, even > though I am receiving this Benefit can I still claim my son > as a dependant? even though you receive the CCTB. The amount you get for the CCTB (and the associated credits) are not taxable, either. For the US tax people lurkers, the CCTB is the Canadian equivalent of the EIC. Except it is sent out monthly to taxpayers so they have it during the year. The calculation gets fairly involved, but is somewhat less than the US Earned Income Credit. If the taxpayer were also needing to file a US return, the amounts involved would not be enough (probably) to affect whether there was support. Bryan -- Bryan Kellar, EA Oregon Tax Help, Inc. -- Portland, Oregon www.oregontaxhelp.com www.canadatax.org Moderator of USCanadaTax Yahoo group at http://finance.groups.yahoo.com/group/USCanadaTax/ << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
03-07-2005, 08:31 AM
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| Re: Claiming kids as dependants "Mike" <mhmain[at]hotmail.com> wrote: - quote - > I recently had a son 6 months ago, every month we get the
Wholly irrelevant to whether you can claim him.> CCTB (Canadian CHild Tax Benefit. My question is this, even > though I am receiving this Benefit can I still claim my son > as a dependent? -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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03-03-2005, 11:15 PM
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| Re: Claiming kids as dependants Mike wrote: - quote - > I recently had a son 6 months ago, every month we get the
On Canadian taxes or on US taxes? I'm pretty sure the> CCTB (Canadian CHild Tax Benefit. My question is this, even > though I am receiving this Benefit can I still claim my son > as a dependant? answer is yes for Canada. For US taxes, it would be considered "support" not provided by you, so you might very well not provide more than 50% of the baby's support. This is being written without research. Free advice is usually worth what you pay for it. Your mileage may vary. Slippery when wet -- and more disclaimers to follow. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
03-03-2005, 07:28 AM
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| Claiming kids as dependants I recently had a son 6 months ago, every month we get the CCTB (Canadian CHild Tax Benefit. My question is this, even though I am receiving this Benefit can I still claim my son as a dependant? Thanks for the help MIke hayes << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| claiming, dependants, kids |
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