Claiming Dependent Parents

[TexasSpud]

What is the name of your state (only U.S. law)? Texas

I would like to claim my parents as dependents for my 2008 filing. They have lived with me since May 2008. I have paid all rent, all utilities and most of the groceries. They will be filing a joint return. Their only income for all of 2008 has been SSI. They have indicated that they have received returns the last two years and they are good with their filings these last two years. However, I fear they may owe some back taxes for a 401K withdrawal. If I claim them and they do indeed owe, will I be responsible for this back tax?

 

[FlyingRon]

You're not responsible for their tax if you claim them as a dependent. If they live with you all year and you provide more than half their support and they don't take their exemptions for themselves, you can. Note they get two exemptions where as you would only get to claim one.

 

[LdiJ]

You're not responsible for their tax if you claim them as a dependent. If they live with you all year and you provide more than half their support and they don't take their exemptions for themselves, you can. Note they get two exemptions where as you would only get to claim one.

Huh? If he is claiming both of his parents as dependents he would get exemptions for both of them (two). Where are you coming up with him only getting one exemption for two people?

Also TexasSpud, if your parent's only income for 2008 was SSI (or do you mean SS retirement benefits?) then they would not be filing a tax return.

I agree that you are not responsible for any back taxes that they might owe.

 

[FlyingRon]

I was thinking of the over 65 exemption which doesn't exist federally anymore but does exist in some states. Of course it's meaningless to the OP as Texas doesn't have personal income tax.

 

[LdiJ]

I was thinking of the over 65 exemption which doesn't exist federally anymore but does exist in some states. Of course it's meaningless to the OP as Texas doesn't have personal income tax.

Well, I have to say "huh?" again, because 1) its not a second exemption, its an add on to the standard deduction and 2) it sure the heck does still exist. Look at the 1040 and page 34 of the 1040 instructions.