Discussion:2006 Dependent Income limitation

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Discussion Forum Index --> Tax Questions --> 2006 Dependent Income limitation

Amaized1 (talk|edits) said:

18 November 2005
Does anyone know what the income limitation is for 2006 for claiming a dependant? 2005 was $3200. Any help is greaatly appreciated.

Thanks

Snooks (talk|edits) said:

18 November 2005
The old five test of dependency has now changed. We now have what is called the "Uniform Definition of a Qualifying Child". I am still trying to understand the new law. The U of I tax material states "The qualifying child test eliminates the gross income and support test, except for a child who provides more than half of his own support. These test were replaced with the residency test". I just looked and the new Pub 17 isn't available yet, but it would be my guess that it will help claify these new rules.

LJACPA (talk|edits) said:

21 November 2005
The personal exemption amount for 2006 is $3,300.

Hotswoop (talk|edits) said:

29 November 2005
I just finished an update class on the new Uniform Definition of a child...very interesting. If your dependent is a "qualifying child" there is no income limitation, they just may not support themselves over 50%. A "qualifying relative" will have an income limitation of one exemption which I believe is 3200.00 for 2005.

Vance (talk|edits) said:

30 November 2005
can i claim my children who are with me a 3rd of the year if the other parent does not work and i am sole provider of income for all of them through spousal and child support?

Kirthe (talk|edits) said:

1 December 2005
to Vance:

only if you get a release of claim to exemption. Otherwise under the new rules, the children are not your qualifying children because they didn't live with you over half the year, and they are not 'qualifying relatives' because they qualify the other parent living there more than half the year.

1) The amount of support does not matter with a qualifying child. 2) Someone who is a qualifying child cannot be claimed by someone else. The only exception then is for the divorce waiver to allow you to claim them.

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