Non married couple bought house and own 50/50, pay 50/50, who files and claims mtge int ded and taxes on 1040?
Answers: Please watch where you post these questions. This forum is Taxes: Canada.
This question is obviously written and answered by Americans.
You might get more answers in the American part of the Taxes site.
My son is 19 years old and graduated high school in june he earned 12000 dollars can i still claim as dependan
Answers: If he was 19 by 12/31/2007 you will not be able to claim him as a dependent unless he is a full time student for at lease some part of five months during 2007. It would appear from your information he would have been if he did not graduate until June. In that case you can claim him.
if he still lives with you, i believe you can because that is poverty level income but i would definately check with whoever prepares your taxes. also he still has to file because chances are he had taxes withheld too.
tax season sux. good luck.
If he lived with you for over half the year, and he didn't provide over half of his own support, then you can claim him.
Does anybody know if my husband and I will receive the "rebate on taxes" if we don't own our own home?
In addition to our regular repayment, will we the the extra $1200 for filling married and $300 for respectively child.Answers: Home ownership has zilch to do with the proposed due rebate plan.
Any tax rebate will be within addition to any repayment you receive on your 2007 Federal Income Taxes.
If you file as one, according to the current plan, you would receive $1200, plus an additional $300 per child. Nothing have passed Congress yet, so it is subject to metamorphose.
Individuals who pay income taxes would receive up to $600, working couples $1,200 and those with children an auxiliary $300 per child under the agreement. Workers who brand name at least $3,000 but don’t discharge taxes would get $300 rebate.
The first rebate payments could begin going out contained by May, and most people could enjoy them by July, though the IRS will already be overwhelmed processing 2007 tax returns.
The rebate is not taxable at the federal plane, and it's unlikely the states would tax it, though that's not entirely clear at this point.
it have nothing to do near owing a house