Are Kids a Tax Exemption?

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Part of the video series: How to Complete a 1040A Tax Form

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Summary: Tax help! How to report your tax exemptions and how to fill out a 1040A tax form in this free video on tax help and personal finance.

Views: 639 | Tags: online, form, aid, instruction, help, income, taxes, 1040a, 1040ez, irs, tax, booklet, tax forms

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About the Expert

Tom Noah Tom Noah has been a Certified Public Accountant (CPA) for over 27 years. In that time he has held positions at several companies as an accountant and a direct... read more

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Video Transcript

Are Kids a Tax Exemption?

In this section we are going to talk about dependent specifically a qualifying child. Do you have a qualifying child? A qualifying child is child who is your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, or a descendant of any of them ( for example, your grandchild). Also who is under the age of 19 at the end of 2007 or under the age of 24 at the end of 2007 and a student or any age and permanently and totally disabled. Who did not provided over half of his/her own support for 2007. The next step is to determine if your qualifying child is your dependent. Is the child a U.S citizen, U.S. national, U.S resident, alien, or a resident of Canada or Mexico? If the answer is yes, you can continue. Is the child married? No. You continue on or could you or your spouse are filling jointly be claimed for a dependent on somebody else's 2007 tax return. If the answer is no, you can claim this child as a dependent. The next question is does the qualifying child qualify you for the child tax credit? You have to answer yes to the question was the child under the age 17 at the end of 2007? Was the chi8ld a U.S. citizen, U.S. national, or U.S. resident, alien? If the answer is yes then this child qualifies for the child tax credit.