number of dependents on W2

happyshark

Tax forms confuse me. I just got a student job on campus and in the number of dependents section I put a 0 because my mom told me to.....she said something about me being a student and not having to put a 1 because they would take too much out and reminded me that i'm not making very much at all. I still have 9% taken out of my paycheck that goes to the Ohio retirement system

Anyway I'm applying for Ohio residency and one of the questions is:
Marital status - (single)
then number of dependents (including self)___________

should I put a 0 or a 1 here?

Also...my mom claimed me as an exemption on last years income tax return but wont do that this year as that is one of the requirements for Ohio residency....i think.

thanks!!!!

variant

I'm pretty sure for most single students, whether they're being claimed as exemptions or not, your overall claims should be just 1, for yourself.

happyshark

does that mean I should change it from a 0 to a 1 at my work? Im making practically zero money at this job, its minimum wage and I dont get a lot of hours. I dont want them to take more money out if they dont have to but at the same time I really need to get ohio residency so I dont get completely fucked on tuition for the next 2 years.

Misanthropic

Since your mom is going to claim you as a dependent (you're still a student and I assume she pays for most stuff), she is going to use the "1" you would put for yourself on your W2s, and add it to her dependents on her W2s. This makes sense because I assume she makes more money than you will make, and thus will get more money on a tax return and/or keep more money in her paycheck.

It makes sense and is perfectly legal - a lot of families do it.

EDIT: Oh, the Ohio residency thing throws a wrench in it. I'm not sure what sort of laws Ohio has in place, most colleges have a free on campus lawyer to help out with legal matters, you can try giving them a call. I will say that most states allow you to claim your dorm or apartment for college as your legal residence, all dependencies aside. This is especially important for voting reasons.

variant

The higher the # the less you get taxed, so I'm not sure why your mom would have you put 0, as that means "take as much as you legally can from me, just in case."

I'm pretty sure that's how it works but I could be completely wrong, can anyone verify?

Misanthropic wrote: »

Since your mom is going to claim you as a dependent (you're still a student and I assume she pays for most stuff), she is going to use the "1" you would put for yourself on your W2s, and add it to her dependents on her W2s. This makes sense because I assume she makes more money than you will make, and thus will get more money on a tax return and/or keep more money in her paycheck.

It makes sense and is perfectly legal - a lot of families do it.

Actually, if he's over 18 his mom should not claim him as an exemption as a kid over 18 does not add anything to your tax return.

Misanthropic

variant wrote: »

The higher the # the less you get taxed, so I'm not sure why your mom would have you put 0, as that means "take as much as you legally can from me, just in case."

I'm pretty sure that's how it works but I could be completely wrong, can anyone verify?

Misanthropic wrote: »

Since your mom is going to claim you as a dependent (you're still a student and I assume she pays for most stuff), she is going to use the "1" you would put for yourself on your W2s, and add it to her dependents on her W2s. This makes sense because I assume she makes more money than you will make, and thus will get more money on a tax return and/or keep more money in her paycheck.

It makes sense and is perfectly legal - a lot of families do it.

Actually, if he's over 18 his mom should not claim him as an exemption as a kid over 18 does not add anything to your tax return.

She could still claim various school expenses though, right?

Never had a dirty little C.H.U.D. myself.

neth

As long as you are in school, dependant on your mom, and under 24 your mom can claim you on her taxes. You will most likely get any money the govt takes back so i would leave it as a 1. (currently you will get a full refund if you make under 4750 a year, so no need to let them hold your money all year)

whuppins

Put a 1. The form goes out of its way to include the phrase, "including self". Everyone is entitled to claim themselves as a dependent as long as they themselves can't be claimed as a dependent by someone else. Since you're over 18, your mom can't (or shouldn't) claim you as a dependent on her forms.

Perhaps it will help if you look at your W-4 form, which breaks the number of dependents in a household down pretty clearly: http://www.irs.gov/pub/irs-pdf/fw4.pdf

Also, most things that result in less withholding per paycheck also result in higher taxes due come tax time. You may be getting a few bucks more per paycheck this way, but in April, you may owe the IRS a few hundred dollars instead of getting a nice rebate.

Bottom line: Call the office or agency that is requiring this information and have them explain it to you and what happens if you claim a different number of dependents.

Misanthropic

whuppins wrote: »

Put a 1. The form goes out of its way to include the phrase, "including self". Everyone is entitled to claim themselves as a dependent as long as they themselves can't be claimed as a dependent by someone else. Since you're over 18, your mom can't (or shouldn't) claim you as a dependent on her forms.

Perhaps it will help if you look at your W-4 form, which breaks the number of dependents in a household down pretty clearly: http://www.irs.gov/pub/irs-pdf/fw4.pdf

Also, most things that result in less withholding per paycheck also result in higher taxes due come tax time. You may be getting a few bucks more per paycheck this way, but in April, you may owe the IRS a few hundred dollars instead of getting a nice rebate.

Bottom line: Call the office or agency that is requiring this information and have them explain it to you and what happens if you claim a different number of dependents.

The post above yours:

As long as you are in school, dependant on your mom, and under 24 your mom can claim you on her taxes.

Feral

My god there's a lot of wrong information in this thread.

Look, any adult can claim any other person as a dependent as long as certain criteria are met. One of those sets of criteria is that the dependent be a child under 24 and be a full-time student, yes. However, there are other sets of criteria as well, which are described in detail here. (In fact, a dependent doesn't actually have be related to you to qualify as a relative as long as they lived with you for the duration of the entire tax year.)

Second, having a dependent does increase your deduction regardless of that dependent's age. You get to deduct $3,300 for each dependent, regardless of who or what they are, with some rare exceptions.

To the OP: this is really quite simple and ignore all the people who are 'tarding it up. If your mom is claiming you as a dependent this year, put 0. If she is not, put 1. If she is, and she's not following the criteria on the page I linked above, she's doing it wrong.

neth

hmmm, well, by putting 0 the governemnt holds more of his money all year until he gets it all back; assuming this is a normal college job. The standard deduction applied to ANYONE that pays taxes is currently 4750 so unless he is going to be making a lot more than that i would definitely recommend putting a 1 so you see more of your money now.

[edit] standard deduction means you only pay taxes on teh money you make over that amount. you make 4750, you pay no taxes, you make 4751 you are taxed on that $1. [/edit]

FunkyWaltDogg

Feral wrote: »

To the OP: this is really quite simple and ignore all the people who are 'tarding it up. If your mom is claiming you as a dependent this year, put 0. If she is not, put 1. If she is, and she's not following the criteria on the page I linked above, she's doing it wrong.

It's quite important that you don't claim yourself (put 1) if your mother is also claiming you. Bad things will happen.

EDIT: I shouldn't say "will". Bad things could happen.