Taxpayers should remember that personal exemptions are suspended for 2018. Taxpayers cannot claim a personal exemption for anyone of their tax return. This means that an exemption can no longer be claimed for a tax filer, spouse or dependents.
Here is what you should know about claiming dependents on your 2018 tax return:
- A dependent is either a child or a qualifying relative who meets a set of tests. Taxpayers should remember to list the name and Social Security number for each dependent on their tax return.
- Dependents cannot claim dependents
- Dependents may have to file a tax return. This depends on certain factors like total income, whether they’ve married and if they owe certain taxes.
- Taxpayers may be able to claim this credit for each qualifying child under age 17 at the end of the year, if the taxpayer claimed that child as a dependent.
- Taxpayers may be able to claim credit for other dependents for qualifying relatives and children who don’t qualify for the Child Tax Credit.
If you need tax help or preparation assistance, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com