Federal Tax, Tax

How to Choose the Correct Filing Status on Your Return

When it comes to tax filing, the correct status to claim isn’t always obvious. Suppose the parents of a young child live together but were never married. Both contribute to the cost of maintaining a household and caring for the child. Are both able to claim the favorable head of household (HOH) status? The answer from the IRS is no. Only one parent can claim HOH status for a qualifying child because to be eligible, you must furnish over half the cost of maintaining a home for yourself and that child. If costs are split equally, the IRS provides a tiebreaker rule to use. For more, see this IRS page for frequently asked questions: https://bit.ly/3T5JUp5  or ask us when we prepare your return. Contact us with any questions. © 2024