Thursday, January 21, 2010

Can more than one parent receive money on the same child for the extra tax refund?

Even though only one parent can claim child when filing. The tax documents still ask if you have a child. In other words if I am single and did not claim my child but still have a child do I receive any money or does it go to the parent that claimed the child?Can more than one parent receive money on the same child for the extra tax refund?
It is theoretically possible for two parents to get the rebate.





If one parent claims the child as a dependent on their 2007 return, then that parent will be eligible to receive the advance rebate. If the other parent then claims the child on their 2008, that parent will get a $300 credit on their 2008 taxes.





But only one parent can get the credit at a time.Can more than one parent receive money on the same child for the extra tax refund?
The rebate goes to the parent who claimed the child on the 2007 return.





If you are asking about your regular refund from your tax filing, if the child lives with you but the other parent is claiming them it's possible that you could get EIC for her if you qualify.

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