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The point is: the child is no longer a dependent. At age 24, she is no longer a qualifying child. As a qualifying relative, she cannot have income over $4,050. The credit or deduction goes with the exemption. The parent cannot claim the daughter, thus they cannot take the credit. She claims herself and take the credit or deduction that she qualifies and saves her the most.

I can't stop laughing. Guy says he desperately needs me to save his life by doing one year of bookkeeping and his tax return. Me: Well, I would love to save your life after tax season, so bring in last year's return, I'll get you an extension and you can pay at least as much as last year's liability now, which will put you on a respirator, but you'll survive. Oh, thank you, thank you, thank you. You won't be sorry. I pay everything thru my bank account except for the stuff I pay by cash. I'm pretty organized.

Sounds like he has all his records organized, should be a snap.

Those exact words reminds me of a former client, I saved his life by completing a couple of years of zero quarterly returns, and to add icing to the cake, he promised I would be his accountant for his secret mix of roasted coffee bean business. This is me

Exactly how I see it Hahn and jack, the credit goes with the exemption. H&R should have verified she is a dependent and not take her word for it, after all that's their job isn't it

Hahn 1040 is EXACTLY correct. H&R, in the example given, is wrong.

I have a long time client who's daughter had education expenses, she turned 24 by the end of the year and earned 24K. I told my client she could not claim her daughters exemption and therefore could not claim the education credits for 2017 and that her daughter should claim them on her return. The daughter already filed, so I recommended a amended return. The client sent me the daughters return prepared by H&R block. They did not take the personal exemption on the daughters return but indicated she could be claimed on someone else's return. My understanding is For education credits, You must be able to claim the exemption For claiming the exemption MUST be UNDER 24 at the end of the year and a student. OR earned under $4,050 How's correct and shouldn't H&R block have picked up on this

Thanks Gail, Imagine that!! 3 emails later I got a 1099-B and now I received a 1099-Div.. what do they think those papers are!!! GRRRR not feeling these taxes today time for a walkabout

Sometimes I think that instead of tax prep, I should just hit myself in the head with a brick. It would hurt less, and be over faster!

Yes, I saw that in your original post. The way I understand each of these, the addition to compensation is at the exercise date/price for the SARs and at vesting/market value for the RSUs, but that the sale doesn't have to necessarily be simultaneous and employee can continue to hold and sell at a later date. Is my thinking all wrong on this, or is there a specific requirement in this employer's plan that requires the immediate sale?

If you click on the wages line in column B or the tab at the bottom, Credit for taxes paid, it takes you to a quick and handy one line worksheet in ATX for the OH info.

Are you looking for NY Form IT-112-R? The instructions are pretty good: https://www.tax.ny.gov/pdf/current_forms/it/it112ri.pdf

It sounds like the differences may be from a change in share price between when they were added to the W-2 as compensation and the share prices when sold.

as a heads up for anyone else..... this had nothing to do with they type of return filed. I think it was that my cr card on file was not checks as the default card?!?!!? at least that is what they told me. so I go into myatx and make it my default card and that lets my new efiles go through but any that had been rejected..... had to go in and delete the efile form add the efile form to the return again and the create and submit the file again. what an amazing waste of time. the efile denial came from the agency not efc..... there has to an easier way to take care of this situation I swear I think I am walking under a dark cloud these days

Yes, like forming an LLC for a client (specifically to hold a property) and not actually transferring the property into the LLC.