Taxes

Renegado

10-Year Member
Joined
Jan 15, 2013
Messages
53
Do they qualify for EIC? Lol. Not all parents are the same.

Cadets can receive refunds of withholdings even as dependents, no?
🤦‍♀️ EIC? Really? You’re a CPA and are going to use a cadet for a parent to receive an EIC? And you’re going to determine dependency exemption depending on the stimulus bonus checks? I’m stunned by some of your comments. Truly stunned.
 

A1Janitor

Member
Joined
Dec 22, 2018
Messages
3,830
🤦‍♀️ EIC? Really? You’re a CPA and are going to use a cadet for a parent to receive an EIC? And you’re going to determine dependency depending on the stimulus bonus checks? I’m stunned by some of your comments. Truly stunned.
LOL

You are over the edge attacking a poster. Because you disagree with my professional opinion and research?

I have never claimed a midshipman or a cadet on a client’s or my tax return. I did however use my resources to contact the IRS practitioner hotline to get to the bottom of the issue. And I firmly believe professionally, based on experience and knowledge, that the either parent or the child can claim the exemption based on the law.

As a professional tax preparer, I would present both tax returns prepared both ways, explain the rationale for both sides, and let the client decide.

The covid checks changed the results of who is better to claim exemption - based on previous posts by others. If one believes either can claim it, preparing proper returns for the client’s decision making is important.

You can disagree with my analysis. I am happy that my analysis was supported by the IRS.

No need for further discussion.
 

usna1985

15-Year Member
Joined
Jun 9, 2006
Messages
7,088
In my day (very different tax code), my parents claimed me the year I entered USNA, since I entered on July 6, meaning my parents covered me for > half the year. After that, they did not claim me.

Here's the thing . . . the IRS is not going to have problems with you if you don't claim your SA kid as a dependent. They might if you do. So you have to weigh the strength of your argument that your child is a dependent (especially after the year s/he enters a SA), the financial benefit of the deduction to you, the likelihood you will be audited, and the potential pain if the IRS disagrees with you.
 
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