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Name: Lizzi

[ Original Post ]

O.k.,my husband claims 2 on his paychecks (we have 1 child) and then 3 at tax time. We get the earned income credit (for our son) which gives us the majority of the $3,000 income tax refund.
O.k. but what I'd like to know is what happens when we can no longer claim our son and get the earned income credit for him? Is that when my husband should start claiming 1 or 0 instead of 2 on his checks?
And what kind of return will we be getting back then? A couple hundred bucks? (I don't work and haven't for years so my husbands income is all we have.Unless I begin working in the future.) ↓

Name: Lizzi | Date: Feb 4th, 2007 12:07 AM

I just want to know which way to go when we can no longer claim our son. It's nice that he claims 2 on the checks because that means he brings more home each week. Our tax preparer said that's not good though because he has hardly paid anything into federal but yet because of our son we are still currently able to get back $3,000,for now anyway but what happens when we can't claim our son anymore? ↑

Name: Lizzi | Date: Feb 5th, 2007 10:34 PM

anyone? ↑

Name: Sunshine1 | Date: Feb 11th, 2007 1:16 AM

How old is your son and how much longer will he be a full time student? College? For some reason you lose him as a dependant at 17...even if they are still in High School. We got him back the next year when he started college. As soon as you lose him as a dependent I would claim Married 0 or 1if you want money back. 2 if you want to break even or owe them about $100 or so. I did great this year, over 4 grand, and it will be about the same for the next 3 years...head of household, college tax credit, mortgage interest, etc. But my ex only got back $200 and he had to claim some serious charitable contributions to even get that. Sit down with your accountant to get a more accurate idea of what you need to do. ↑

Name: stevie | Date: Feb 11th, 2007 1:47 AM

absolutly or you will paying in an let me tel you when you owe you will pay interest. they r not very forgiving . i have to pay every year but i make sure i have it to pay. becarefull. ↑

Name: stevie | Date: Feb 11th, 2007 1:49 AM

had to be part of this u helped me i want to pay you back ↑

Name: Lizzi | Date: Feb 13th, 2007 8:24 PM

Aww thanks stevie!!!!! Gosh you're really sweet! Sunshine I'm under the impression that we can still claim him when he turns 17 because he will still be in highschool. He will still be a fulltime student even at age 17 so we should still be able to claim him I'm thinking? ↑

Name: Lory | Date: Feb 14th, 2007 4:11 AM

Lizzi, you should still be able to claim him @ 17. As long as he is still a full time student. In our situation both of the girls where moved out @ 15 or 16. They both worked and provided for themselves. Therefore...we would have had to claim they're income. (being they made over 5 grand a year. Nope....could not do. Put us in a higher tax bracket!!! Thanks good ol x MOM!!! Anyway...you should be able too!! ↑

Name: Sunshine1 | Date: Feb 14th, 2007 4:36 PM

Lizzi-Check with your accountant. We were told we lost him at 17 (he was still FT HS student) because you can claim them for 18 years and since they start being a dependent before they are a year old, they take the time off the end. ↑

Name: Lory | Date: Feb 14th, 2007 5:00 PM

I agree w/Sunshine1 Lizzi. Check with your accountant. Our situtation was different b/c of a court order stating who could claim the children as dependants. Unfortunately...mom (x) and step-dad kicked the girls to the curb forcing them to be on their own. (they wouldn't move in w/us) We should have been able to claim them up to 19...but, we didn't want to take their return from their hard work. Good Luck Lizzi!! ↑