Taxes... Medical Exp. & Step Kids deduction. support?
We have 3 kids, 2 from his previous matrimonial and one that was born within 2007. I need give a hand with deduction.
Can the step kids be claimed at all? we repay child support & medical w/ dental for them
What deductions will I find for the little one? she went to child fastidiousness for 3 months, totaling 2300.00 is that deductible?
I have over 6000.00 surrounded by medical bills, prescriptions etc from last year, can those be claimed?
I remunerated rent all year, can that be claimed?
We remunerated every month for owed taxes from 2001 & other years can those be deducted?
What form do I use?
lots of question, but finding a reliable tax personage is hard & I don't caution for HR block or any "franchise".
Answers: These answers are per the IRS
Re: step kids
"Nothing can be deducted for the child support payments. Child support payments are neither deductible by the payer nor taxable income to the payee. You may be capable of claim the child as a dependent. The parent who the child lived with the greater subdivision of the year is the custodial parent. Generally the custodial parent is allowed to claim the exemption for the child if the other exemption tests are met. However, the noncustodial parent may be allowed to claim the exemption for the child if the custodial parent signs a Form 8332 (PDF), Release of Claim to Exemption for Child of Divorced of Separated Parents, or a substantially similar statement. "
Please refer to Publication 501, Exemptions, Standard Deduction and Filing Information, and Publication 504, Divorced or Separated Individuals, for more information.
RE: Child and Dependent Care Credit
"If you remunerated someone to care for a qualify individual so you (and your spouse if you are married) could work or look for work, you may be able to claim the credit for child and dependent assistance expenses. If you are married, both you and your spouse must have earn income, unless one spouse was any a full–time student or was physically or mentally incapable of self–care. The expenses you compensated must have be for the care of one or more of the following qualify individuals:"
"Your dependent (under the rules for qualifying child) who be under age 13 when assistance was provided. For dependable custodial parents, refer to Child of Divorced or Separated Parents in Publication 503 , Child and Dependent Care Expenses. A noncustodial parent, however, cannot treat a child as a qualify person even if the parent may claim the child as an exemption."
RE: Medical bills
Medical bills are a agenda A deduction that is to say dependent upon gross income, as to whether or not they can be deducted. (7.5% of gross income is deduct from total expenses to find deductable amount of medical expenses)
Rent is not deductable, unless the dwelling is used for business purposes, as far as I know. Some State do allow for credits for rent paid.
When you speak of paying taxes owed, is this federal or state? State income taxes salaried are deductable on schedule A, for what be paid during the year.
File on a Federal 1040 to go and get the credits.
You can find all the information and forms that you inevitability at
www.irs.gov
Unless the stepkids live with you, they can't be claimed as dependents unless nearby is a valid court order saw your spouse can claim them, or if their mom signs a form 8332 releasing the exemption to their dad and saying she won't claim them. If you can't claim them as dependents, you can't claim medical or dental expenses for them any.
For the baby, you can pinch an exemption and a child tax credit. If the child exactness was so both you and your husband could work, the cost is eligible for a child carefulness credit.
Medical bills can only be claimed for the amount specifically OVER 7.5% of your income for the year, and only if that amount plus your other allowable deduction is over the standard deduction, currently $10,700 on a amalgamated return. So I'd guess you are going to be out of luck there.
Rent can't be claimed on your federal return. Some states enjoy programs to claim it.
If the taxes are federal income taxes, no you can't deduct them. If they are state and local taxes, you can but simply if you itemize.
You will most likely know how to use a form 1040A.
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Can the step kids be claimed at all? we repay child support & medical w/ dental for them
What deductions will I find for the little one? she went to child fastidiousness for 3 months, totaling 2300.00 is that deductible?
I have over 6000.00 surrounded by medical bills, prescriptions etc from last year, can those be claimed?
I remunerated rent all year, can that be claimed?
We remunerated every month for owed taxes from 2001 & other years can those be deducted?
What form do I use?
lots of question, but finding a reliable tax personage is hard & I don't caution for HR block or any "franchise".
Answers: These answers are per the IRS
Re: step kids
"Nothing can be deducted for the child support payments. Child support payments are neither deductible by the payer nor taxable income to the payee. You may be capable of claim the child as a dependent. The parent who the child lived with the greater subdivision of the year is the custodial parent. Generally the custodial parent is allowed to claim the exemption for the child if the other exemption tests are met. However, the noncustodial parent may be allowed to claim the exemption for the child if the custodial parent signs a Form 8332 (PDF), Release of Claim to Exemption for Child of Divorced of Separated Parents, or a substantially similar statement. "
Please refer to Publication 501, Exemptions, Standard Deduction and Filing Information, and Publication 504, Divorced or Separated Individuals, for more information.
RE: Child and Dependent Care Credit
"If you remunerated someone to care for a qualify individual so you (and your spouse if you are married) could work or look for work, you may be able to claim the credit for child and dependent assistance expenses. If you are married, both you and your spouse must have earn income, unless one spouse was any a full–time student or was physically or mentally incapable of self–care. The expenses you compensated must have be for the care of one or more of the following qualify individuals:"
"Your dependent (under the rules for qualifying child) who be under age 13 when assistance was provided. For dependable custodial parents, refer to Child of Divorced or Separated Parents in Publication 503 , Child and Dependent Care Expenses. A noncustodial parent, however, cannot treat a child as a qualify person even if the parent may claim the child as an exemption."
RE: Medical bills
Medical bills are a agenda A deduction that is to say dependent upon gross income, as to whether or not they can be deducted. (7.5% of gross income is deduct from total expenses to find deductable amount of medical expenses)
Rent is not deductable, unless the dwelling is used for business purposes, as far as I know. Some State do allow for credits for rent paid.
When you speak of paying taxes owed, is this federal or state? State income taxes salaried are deductable on schedule A, for what be paid during the year.
File on a Federal 1040 to go and get the credits.
You can find all the information and forms that you inevitability at
www.irs.gov
Unless the stepkids live with you, they can't be claimed as dependents unless nearby is a valid court order saw your spouse can claim them, or if their mom signs a form 8332 releasing the exemption to their dad and saying she won't claim them. If you can't claim them as dependents, you can't claim medical or dental expenses for them any.
For the baby, you can pinch an exemption and a child tax credit. If the child exactness was so both you and your husband could work, the cost is eligible for a child carefulness credit.
Medical bills can only be claimed for the amount specifically OVER 7.5% of your income for the year, and only if that amount plus your other allowable deduction is over the standard deduction, currently $10,700 on a amalgamated return. So I'd guess you are going to be out of luck there.
Rent can't be claimed on your federal return. Some states enjoy programs to claim it.
If the taxes are federal income taxes, no you can't deduct them. If they are state and local taxes, you can but simply if you itemize.
You will most likely know how to use a form 1040A.