Six
Important Facts about Dependents and Exemptions
Even though each individual tax return is different, some tax rules affect every person who may have to file a federal income tax return. These rules include dependents and exemptions. The IRS has six important facts about dependents and exemptions that will help you file your 2011 tax return.
1. Exemptions reduce your taxable
income. There are two types of exemptions: personal exemptions and
exemptions for dependents. For each exemption you can deduct $3,700 on your 2011
tax return.
2. Your spouse is never considered your
dependent. On a joint return, you may claim one exemption for yourself
and one for your spouse. If you’re filing a separate return, you may claim the
exemption for your spouse only if they had no gross income, are not filing a
joint return, and were not the dependent of another taxpayer.
3. Exemptions for dependents. You
generally can take an exemption for each of your dependents. A dependent is your
qualifying child or qualifying relative. You must list the Social Security
number of any dependent for whom you claim an exemption.
4. If someone else claims you as a
dependent, you may still be required to file your own tax return.
Whether you must file a return depends on several factors including the amount
of your unearned, earned or gross income, your marital status and any special
taxes you owe.
5. If you are a dependent, you may not
claim an exemption. If someone else – such as your parent – claims you
as a dependent, you may not claim your personal exemption on your own tax
return.
6. Some people cannot be claimed as your
dependent. Generally, you may not claim a married person as a dependent
if they file a joint return with their spouse. Also, to claim someone as a
dependent, that person must be a U.S. citizen, U.S. resident alien, U.S.
national or resident of Canada or Mexico for some part of the year. There is an
exception to this rule for certain adopted children. See IRS Publication 501,
Exemptions, Standard Deduction, and Filing Information for additional tests to
determine who can be claimed as a dependent.
Author: Kathleen
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