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Re: Income tax


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Posted by Dave H (MI) on January 29, 2014 at 14:24:10 from (50.127.229.77):

In Reply to: Income tax posted by gtractorfan on January 29, 2014 at 12:42:19:

You said "preparing your income tax" and not "filing their income tax". Usually it is when you go to FILE the tax electronically that you get told you cannot claim your dependent and it is usually because they have jumped the gun and filed early, claiming themselves when they should not. If this is the case the child can immediately amend their tax return (has to be done by mail) and then the parents can e-file theirs late in the season and it should go thru with the dependent on it.

Now, if they are indeed being told during preparation that they cannot claim their child (either by a software program or by a tax preparer) then most likely this is bad advice. Do not call the IRS. Talk to someone locally who you trust. I answer questions for people all the time on the phone and never ask for a dime. Gets me a new client sometimes.

One more possibility is a communication problem. At 17 years of age they can no longer claim the CHILD TAX CREDIT but can still claim the child as a DEPENDENT on the front of the return. Two different things and, if I were a betting man, I would bet this last is what is going on here. Ask for clarification.

HTH

Dave H*** CPA


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