Retirement tax questions

@rmn_wlls @Gram Carol 

 

I realized that one thing may not have been made clear enough here for grandparents who are claiming grandchildren as dependents.   You will not be eligible for child-related refundable credits if you had no income from working, but your grandchild(ren) can qualify you for Head of Household filing status.   If you have taxable income from pensions, retirement accounts, etc. etc. that filing status makes less of your income taxable.  So even though you will not get the child tax credit, enter your grandchildren as dependents----it will make a difference for you.

 

To claim a grandchild as your dependent

When you enter the child’s name in Personal Info, you will be asked “What’s your relationship to  [child’s name]?”  

           Choose “another person”

            a drop down menu will appear that lets you choose grandchild

 

 

Am I Head of Household?

https://ttlc.intuit.com/questions/1894553-do-i-qualify-for-head-of-household

https://ttlc.intuit.com/questions/2900097-what-is-a-qualifying-person-for-head-of-household

 

If you qualify as Head of Household, when you enter your marital status (single or married filing separately) into MyInfo, and then enter your qualifying dependent, TurboTax will offer HOH as your filing status.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**