Discussion:Form 8901
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
(Difference between revisions)
| Revision as of 06:50, 3 January 2006 DZCPA (Talk | contribs) ← Previous diff |
Revision as of 15:48, 3 January 2006 Mshelden (Talk | contribs) Next diff → |
||
| Line 9: | Line 9: | ||
| {{ForumReplyPost|UserID=DZCPA|Date=3 January 2006|Text=Divorce-- where one ex spouse releases the exemption to the other ex spouse.}} | {{ForumReplyPost|UserID=DZCPA|Date=3 January 2006|Text=Divorce-- where one ex spouse releases the exemption to the other ex spouse.}} | ||
| + | |||
| + | {{ForumReplyPost|UserID=Mshelden|Date=January 3, 2006|Text=The Form 8901 downloaded from the IRS website has the instructions and a taxpayer can take the Child Tax Credit if they don't take the exemption only in these two limited cases: | ||
| + | 1. You, or your spouse if filing jointly, can be claimed as a | ||
| + | dependent on someone else’s 2005 return. | ||
| + | 2. Your qualifying child is married and files a joint return for | ||
| + | 2005 (unless that joint return is filed only as a claim for a | ||
| + | refund and no tax liability would exist for either spouse if | ||
| + | they had filed separate returns). | ||
| + | By the way, DZCPA, divorce doesn't qualify, in that case the credit goes with the exemption. | ||
| + | I was just reviewing all these rules right before I read this forum post. :)}} | ||
Revision as of 15:48, 3 January 2006
Discussion Forum Index --> Tax Questions --> Form 8901
| 29 December 2005 | |
| Hit the wrong key. Form 8901 is used by a taxpayer to claim child tax credit for a non-dependent. Given the rules for claiming child tax credit, what would be a scenario in which a taxpayer could claim the credit for a non-dependent. | |
| 29 December 2005 | |
| This is explained in detail in IRS Pub 17 which can be downloaded in PDF format from the IRS site.anuenue | |
| 29 December 2005 | |
| I have Pub 17 in hard copy. The child tax credit section says nothing regarding the question I posed. What page number in 17 explains this in detail. | |
| 3 January 2006 | |
| Divorce-- where one ex spouse releases the exemption to the other ex spouse. | |
| January 3, 2006 | |
| The Form 8901 downloaded from the IRS website has the instructions and a taxpayer can take the Child Tax Credit if they don't take the exemption only in these two limited cases:
1. You, or your spouse if filing jointly, can be claimed as a dependent on someone else’s 2005 return. 2. Your qualifying child is married and files a joint return for 2005 (unless that joint return is filed only as a claim for a refund and no tax liability would exist for either spouse if they had filed separate returns). By the way, DZCPA, divorce doesn't qualify, in that case the credit goes with the exemption. I was just reviewing all these rules right before I read this forum post. :) | |
