<p>Now that I’m doing taxes; yee’ha; have a quick question. Next year, when my son is in the academy, is claiming him as a dependent on taxes pretty much a “no-go”? To make the question simpler; let’s take their sophomore year when they didn’t spend 6 months at home. Does the $800+ that they are technically being paid count as “Base Pay” and therefor they should file separately on their own; or does that money come up similar to “BAQ/BAS” which isn’t taxable, and therefor I can claim them as a “Dependent” for my taxes? Thx…</p>
<p>Four tests will qualify a child to be a dependent</p>
<p>These rules enable you claim a child as a dependent. </p>
<p>Qualifying Children</p>
<p>To be claimed as a qualifying child, the person must meet four criteria:</p>
<p>Relationship the person must be your child, step child, adopted child, foster child, brother or sister, or a descendant of one of these (for example, a grandchild or nephew). </p>
<p>Residence for more than half the year, the person must have the same residence as you do. </p>
<p>Age the person must be </p>
<p>[ul]
[<em>]under age 19 at the end of the year, or
[</em>]under age 24 and a be a full-time student for at least five months out of the year, or
[li]any age and totally and permanently disabled.[/ul]</p>[/li]
<p>Support the person did not provide more than half of his or her own support during the year.</p>
<p>As your son will not be living with you for more than half the year, he cannot be claimed.</p>
<p>He should file his own tax returns as well.</p>
<p>:cool:</p>
<p>The Academy will claim $12.500 in support for next year. Unless you can exceed that number chances are you will not be able to claim him as a deduction. The Academy will give you some good info about this at Orientation. </p>
<p>I am not able to claim potter for the first six months of 2007 becuase I cannot show more than $12,500 in expenses. We are filing her taxes as Single head of household for 2007. She will get everything she payed in FITW for 2007. I am waiting for her W-2 info. We talked last night about it and her info is up on Mypay. So I expect to file hers over the weekend.</p>
<p>There are parent groups like FAMNET, and yahoo groupd for parents of each class. Currently a lot of parents are asking the same questions. Most are learning the deduction ended last year.</p>
<p>I have a question about the residence requirement;
My daughter that will be attending an in-state private college will not have the same residence but all of the other requirements apply. Does that mean that I can't claim her as a dependent in 2008?</p>
<p>If she doesn't live at home, she doesn't meet all four of the requirements needed to claim her as a dependent.</p>
<p>since your children are active duty military they are no longer your dependents. if your child was attending a civilian college and living away from home then - yes you can claim the deduction - providing you are supporting them - i.e. paying tuition, room, board, etc etc etc........</p>
<p>Here is a tidbit that you hopefully will never have to use:
If your child leaves the academy and then applies to a civilian school then they are no longer your dependent for federal financial aide. They will file the fafsa on their own.</p>
<p>Thanks all, that is what I thought.</p>
<p>A correction however; the 6 month LIVING at the same RESIDENCE does NOT apply to college students. I.e. You kid is in college for 8-9 months a year; you STILL can claim them as a dependent.</p>
<p>The other thing I was wondering, which you all answered, was the dollar amount. The academy is claiming $12,500. 2 people can't claim the same dependent for expenses. So, that answers the question.</p>
<p>But to answer txtwinmom; you can claim your daughter even if she is in the dorms at college. 1 note to worry about however is if she makes any money at a part time job or any other income. As long as it's below the minimum $3,xxx.00 (Can't remember the limit right now); you are OK. If she makes more than that, and you want to still claim her, you will have to also claim that income.</p>
<p>Anyway, thanks all.</p>
<p>P.S. I assume that the academy helps the cadets with tax issues; OR is the money they make for the 4 years not considered income and they don't have to worry about taxes???? Anyone know?????</p>
<p>Christcorp - I am glad you cleared that residence question up. Generally, education is considered a temporary absence and eliminates the 6 month rule. It also states in publication 501 that military service counts as a temporary absence - I don't know if that helps out anyone here. </p>
<p>I am curious where you got the info about having to claim their income. Can you direct to me to a source? My belief is that they have to file their own taxes at a certain point but can still be claimed on the parents taxes. Hopefully that' correct!</p>
<p>I really do wish we could get a simplified tax code so that it wouldn't take hours to just file each year!!</p>
<p>My kids have been earning money since they could work - they have always filed their own taxes - I claim them as a dependent. They do not claim themselves as a dependent.
It may depend on your situation - mostly I think you make out better if the child files. But - I am not a CPA - lol.</p>
<p>Yes PA and Just a mom. I should have clarified. Just like the academy is CLAIMING our kids and you can't, the same applies when the files their own. There are many options.</p>
<ol>
<li><p>Kid make less than minimum amount; overlook the income, claim as your dependent, only include your own money, and forget everything else.</p></li>
<li><p>Kid makes more than the minimum amount; let them do their own taxes and claim themselves as single and you don't claim at all.</p></li>
<li><p>Kid makes more than the minimum amount; let them do their own taxes and they check the box (Claimed as dependent on someone else's filing), and you claim them as a dependent.</p></li>
</ol>
<p>You CAN claim their income on yours if you like, but there are additional rules and procedures. I believe it's form 8814. Usually, it''s best to do option 2 or 3.</p>
<p>I'm not a CPA either, but there is nothing in the Tax Code that I'm aware off that ties the filing of a return to that person's status as a dependent on their parents return. </p>
<p>DS52262 -- how are you filing your daughter's taxes as head of household? That filing status requires the filer to have a dependent -- there are very specific rules around HOH.</p>
<p>Some good information in this thread</p>
<p>And here also</p>
<p>Sorry, you are correct I will be doing it this weekend, and she will be declared single no ones dependent. The Academy is actually passing a free site to all the cadets. I assume it is similar to turbo tax or tax cut.</p>
<p>Well, on another note, if any parents are worries if their kids can do the taxes without help, no worries, help is here!</p>
<p>
<p>The USAFA tax center is scheduled to open on 04 February 2008 to assist in tax return preparation for military ID card holders. The Tax Center will be located in the Arnold Hall "Alley" Arcade, down the hall from the ticket office and Haps. Hours will be Monday through Thursday 0800 - 1600, closed on Fridays.</p>
<p>Don't delay in filing your tax return! Call the USAFA Tax Center at xxx-xxx-xxxx, Mon-Thurs 0800-1600, to schedule an appointment.
</p>
<p>Help any worried parents?</p>
<p>
[quote]
But to answer txtwinmom; you can claim your daughter even if she is in the dorms at college. 1 note to worry about however is if she makes any money at a part time job or any other income. As long as it's below the minimum $3,xxx.00 (Can't remember the limit right now); you are OK. If she makes more than that, and you want to still claim her, you will have to also claim that income.
[/quote]
</p>
<p>??? Don't think this is correct. My freshman daughter made @ $5,000 last year (including taxable portion of her scholarships). We claimed her as a dependent but do not have to claim the income - in fact cannot claim it. She filed a tax return as single to get back excess tax paid.</p>
<p>swimcatsmom; please see my previous post. I already "Qualified" that statement. Thx...</p>
<p>The kiddie-tax, which used to apply to children 14 and under applies to children 18 and under as of last year if I remember right, spells out the different options of how and when you can claim a child's income on your return. I've always found that having my son claim his own income, even if it was not earned-income (i.e. capital gains or interest) was more beneficial than trying to include that income on my return. I'm over-simplifying, but effectively, my marginal tax rate is a couple of brackets above the marginal rate my son is in.</p>
<p>
[quote]
swimcatsmom; please see my previous post. I already "Qualified" that statement. Thx...
[/quote]
</p>
<p>OK - missed your 2nd post :)</p>