54500
Level 1
03-14-2019
08:51 PM
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MY CLIENT HAS A SON AGE 21 AND NOT A STUDENT, HE LIVES AT HOME AND HAD
EARNED INCOME OF $4500.00 AND REINVESTED DIVIDENDS OF $47000.00. IF MOM AND DAD CLAIM HIM THEY GET $500 TAX CREDIT. I HE CLAIMS HIMSELF HIS TAX IS REDUCED BY
$1000.00. WHAT IS THE PROPER WAY TO REPORT, CLAIM HIMSELF AND GET $12000.
STANDARD DEDUCTION OR PARENTS CLAIM HIM?
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Just-Lisa-Now-
Level 15
03-14-2019
08:57 PM
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If hes 21 and isnt a student then his income is too high for parents to claim him...that takes away one of your options.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪