Taxes Questions and Answers

Taxes cross-examine?

Before anything , Yes i already asked this question i only need some more answers. ok so i individual made $8,116 this past year if i record taxes and my second box says taxes withheld are $256.33 but i claim my younger brother who is lower than 18 how much would i be getting back? could i claim him eventhough i didnt sort more than 10 grand? Also my mom does not claim him because she made $0 dollars contained by 07

---

Answers: do what i do . i got "people" lug it to them 8o)

---

You can claim your brother if
He lived with you more than partly of the tax year
and he did not provide more than partly of his support, and
if he is the qualifying child of someone else you win the tie breaker rule.

I

Tax Question?

I purchased a place with my girlfriend closing year and just received the document showing how much interest we compensated in amalgamation to the real estate taxes.

Since I am timetabled as the primary, the document only shows my SSN, but both our name are listed on the doc.

When we record our taxes separately, can we just take off the amount of interest paid between us, 50-50?

Any suggestions on what to do would be great.

Thank you

---

Answers: I did alike thing next to wife back when she be my girlfriend. We ran a scenario splitting the mortgage interest 50/50... And next to me talking adjectives of it. It turned out much better with me taking the full conclusion.

Upon splitting the interest deduction, it be still lower than our standard deduction, so neither of us received a benefit.

If you still want to split the interest presumption, you have to allocate to her through a "nominee allocation". I'm for a time cloudy on the specifics of how to do this.

What are K1 dividends?

---

Answers: Earnings from a privately held corporation where you are an owner. Potentially and "Subchapter S" corporation.

These earnings flow from the company's income to you and are reported to you on the K-1. The income is called a dividend when its profit from a corporation.

Anthony
(www.small-business-startup-advisor.co...

---

idk! lol