ed_accountant Posted April 12, 2008 Report Share Posted April 12, 2008 Can a 9 year old child claim her own personal exemption? Or are the parents required to claim her exemption since they support her. The parents have hit hard times and have zero taxable income. The child has partnership interest of 2400 of taxable income. Quote Link to comment Share on other sites More sharing options...
chadw Posted April 13, 2008 Report Share Posted April 13, 2008 Can a 9 year old child claim her own personal exemption? Or are the parents required to claim her exemption since they support her. The parents have hit hard times and have zero taxable income. The child has partnership interest of 2400 of taxable income. If the parents can claim her as an exemption, the nine year old cannot claim herself even if the parents do not. Quote Link to comment Share on other sites More sharing options...
MN2V Posted April 13, 2008 Report Share Posted April 13, 2008 Is this interest and dividend income? Have the parents file 8814 and claim the child's income. I know they can with interest I am not sure about the partnership part, but if it comes on a K-1 as interest it should work. Quote Link to comment Share on other sites More sharing options...
Maribeth Posted April 13, 2008 Report Share Posted April 13, 2008 Is this interest and dividend income? Have the parents file 8814 and claim the child's income. I know they can with interest I am not sure about the partnership part, but if it comes on a K-1 as interest it should work. If the partnership income is partnership ordinary income or rentals, you will have to file the return for the child. It cannot be included on a return filed by the parents. The child will get a standard deduction of $850 and no personal exemption. That will leave about $1500 in taxable income. Without working through the return, I would guess that will come out to about 10% on the lot. hth, Maribeth Quote Link to comment Share on other sites More sharing options...
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