TaxAudit Blog

A child who qualifies as a dependent on their parent’s tax return will need to file a tax return in certain situations. Let's explore when they need to file.

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Yes, you can. Provided that the baby in question is your dependent, there is a whole host of tax benefits you can take advantage of to offset your expenses.

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Kindergarten tuition is not deductible because the costs to attend are considered educational expenses. However, qualifying childcare expenses are deductible.

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Can Grandparents take a deduction for paying the preschool tuition costs when the child still lives with the parents? To qualify you must meet the following.

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You can likely deduct your out-of-pocket assisted living expenses on your Form 1040 tax return. But, as always, there are some conditions that have to be met.

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As with most tax questions, the answer to this question can be a little complicated. Dependent adult children will fall into one of two categories.

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The 2021 expense limit for this credit is $8,000 for one qualifying child, and $16,000 for two or more qualifying children. The credit is a % of those expenses.

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To claim a child for this credit, the child has to meet several tests. Biology isn’t a disqualifier in claiming dependents, but other factors must be met.

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The IRS will issue Letter 6419 to provide the total amount of advance credit that was paid to the taxpayer -  keep this letter for your 2021 tax return!

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Under certain circumstances you can indeed claim a tax benefit for preschool tuition - called the Child and Dependent Care Expenses tax credit.

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If you didn't receive an Economic Impact Payment and meet the requirements, you can still receive the payment when you file your 2020 federal income tax return.

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Simply stated, child support is not deductible. However, it is worth noting that identifying child support payments may not be so simple.

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Yes, kids may have to pay taxes. No matter a person's age, if they have income that exceed certain IRS thresholds, the income should be reported.

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If you paid someone to care for your child so that you could work or look for work, you may be able to take the credit for child and dependent care expenses.

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When more than one person wants to claim a child on their tax return, sorting it out becomes complicated. Not only are there five tests to meet for a child...

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The Child and Dependent Care Credit is available to help offset some expenses of childcare or daycare costs.

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