Category Archives: Dependents

Non-Dependent Medical Costs

Today TaxMama® hears from Robert in the TaxQuips Forum, who has this interesting question. “A self-employed father has found himself having to cover thousands of dollars of uninsured medical expenses for his 21-year old daughter. He does not claim her as a dependent. The father has paid these expenses directly to the providers – and […]

2013 & 2014 Quick Resources

Today TaxMama® hears from Pope in the TaxQuips Forum, with a request.  “Could you publish a table showing 2013 & 2014 standard tax items. Things like standard deductions; personal exemptions; mileage rates (business, medical, charity); income limits– phaseout of itemized deductions; etc.?”

W-4 When Pregnant

Today TaxMama® hears from Shauna in the TaxQuips Forum, with this news. “I just found out that I was pregnant and my baby is due in October. Would it be smart to add my unborn child to my W-4 now? Also which would I come out better doing, claiming head of household or just single […]

Child with K-1

Today TaxMama® hears from Michele in the TaxQuips Forum, with this question.  “My client files MFJ with a son. The son made $1,237 on a W-2 and he received a K-1 with $137 in box one (business income) and $1,832 in the self-employment box. Does a K-1 qualify as investment income? Will the parents be […]

Daughter and 1098T

Today TaxMama® hears from Sheba in the TaxQuips Forum, who needs guidance. “My daughter is a first year college student out of state. She has a partial loan, partial scholarship and grants. I don’t know what to do with the information from the 1098-T. I still claim her as a dependent and I pay part […]

Emancipated Child

Today TaxMama® hears from Morri in the TaxQuips Forum with a rare question. “My son became emancipated in September. He has had his full time job since he graduated in June. He still lives with his mother and I paid my support until he became emancipated. Since I paid my support until this time and […]

Custodial Parent

Today TaxMama® hears from Dok0619 in the TaxQuips Forum with the eternal problem. “I am separated from my wife and she has our two kids. She left August of 2012. In November our lawyers made a temporary custody agreement for us and I have been voluntarily paying her child support until we finally go to […]

Supporting Family

Today TaxMama® hears from Sue in the Tax Quips Forum with this issue. “My parents are both unemployed and lived with me all year. My dad did receive unemployment, but it was about $3,300 for the entire year – my mom did not receive any unemployment. My younger sisters also lived with me – they […]

20 Children or 2?

Today TaxMama® hears from BlueSage in the TaxQuips Forum with this question. “Is it better to declare 20 children and then store the tax one would pay in an investment account, and use that money to pay taxes at year end? Or is it better to declare the right amount of children, pay as you […]

Dependent Income Limits

Today TaxMama® hears from Rando with a question that has become more and more common in today’s economy. “What is the maximum income my son can earn, who lived with us all year, and still be declared as a dependent on my tax return?”