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Magen · Jan 31, 2007, 02:03 PM

Hi Im 21, single, and still filing taxes with my mother (as her dependent). I live with her, and my grandmother,and so I guess I am her dependent, even though I pay all my bills (car payment, insurance, and credit cards).
My questions are....at my job they do not take taxes off, so at the end of the year I get a 1099. Do I have to pay taxes? ( i earned approximately $7900).
Does my mom get penalized (will she recieve less money) because of my 1099, and because we file jointly? If I do have to pay taxes, is there any way for me to save money? also.... My mother only earned $2000 this year. (I dont know if thats important)

We plan on going to an accountant. but any info is highly appreciated....i tried to give as much info as possible..:)

thank you!

ScottGem · Jan 31, 2007, 02:05 PM

You still have to file your own taxes, but mom can still clkaim you as a dependent. You don't file jointly, that's only for spuses.

AtlantaTaxExpert · Jan 31, 2007, 03:55 PM

HOLD EVERYTHING, Magen!

First, HOW OLD ARE YOU!

Second, you can make the argument that if you make $7,900 and your mother makes only $2,000, that she is YOUR dependent, not vice versa!

If you are 19 years of age or older and you are not a full-time student, she cannot claim you as a dependent.

However, since she makes less than $2,000, you can legally claim her.

It will not make a difference, since, at $7,900, your income is so low that you will owe NO income taxes, but by you claiming Head of Household, you MAY qualify for the Earned Income Credit.

If you need professional help to do this, contact me at [email protected].

ScottGem · Jan 31, 2007, 08:19 PM

Hmm, I hadn't thought of that. If you she only had $2K she could not have provide 50% of your support. ATE is right.

AtlantaTaxExpert · Feb 1, 2007, 11:33 AM

Scott!

Did you have any doubt? :-)

ScottGem · Feb 1, 2007, 11:43 AM

Originally Posted by AtlantaTaxExpert

Scott!

Did you have any doubt?? :-)

ROFL, Do you need a larger hat size? <eg>

AtlantaTaxExpert · Feb 1, 2007, 12:00 PM

Not really! I need all the humor that is available at this time of year! :-)

BTW, what does ROFL mean?

Magen · Feb 1, 2007, 12:59 PM

Originally Posted by AtlantaTaxExpert

HOLD EVERYTHING, Magen!!

First, HOW OLD ARE YOU!

Second, you can make the argument that if you make $7,900 and your mother makes only $2,000, that she is YOUR dependent, not vice versa!

If you are 19 years of age or older and you are not a full-time student, she cannot claim you as a dependent.

However, since she makes less than $2,000, you can legally claim her.

It will not make a difference, since, at $7,900, your income is so low that you will owe NO income taxes, but by you claiming Head of Household, you MAY qualify for the Earned Income Credit.

If you need professional help to do this, contact me at [email protected].

Im 21, and I am a Full-Time student. My mom earned so little, because she was sick for most of the year, and only worked the last month or so. We live with my grandmother, so luckily we don't have "bills" to worry about, other than our own.

Living with my grandmother I wouldn't be able to get EIC, right? She files her own taxes, nothing to do with us.

AtlantaTaxExpert · Feb 1, 2007, 08:56 PM

You cannot get the EIC because you are too young UNLESS you have a child.

Sorry!