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Deductions & credits
1) We already agree that I will claim the child as a dependent, so no disagreement.
2) Now lets say for Example I make $5000 and she gives me $3000 every month, and we spend a total of $7000 each month for our living expenses such as babysitter, rent, food, etc. then I will be spending $4000 so I will still maintain head of household from what I understand, right (her $3000 vs my $4000)? My only question is do I have to pay taxes about the $3000 she will Zelle me each month somehow? And can I claim some child care credit at the end of the year filing taxes?
May 18, 2024
7:25 PM