I need help with my taxes it's confusing can I help me?

[endlessglowmaw]

I have been unemployed. I have a w-2 1099-G. And another w-2 from aetna/CVS. I owe money from the year before and I have proof I lost money gambling those days. There was a payout and I have well over that payout that day. I made a mistake and bad boyfriend and toxic. So I went gambling alot. I'm a mess trying to do all this. My ex mother in law said she is claiming my son and she shouldn't even think of that.

[Vanessa A]

DEPENDENT

Who did your son live with for over 6 months during the year?  If he lived with you for more than 6 months and not her, then you can claim him, she can't.  If he lived with her for more than 6 months and not you, then you would not be able to claim him, but she could. 

The following criteria must be met to claim someone as a qualifying child:

• Your child (including adopted and foster children), your sibling, or a descendent of any of them.
• Age 18 or younger at the end of the tax year OR under 24 (and younger than you and your spouse) if they are a full-time student
• Lived with you for more than 6 months during the tax year
• They did not provide more than half of their own support (social security does not count)
• They did not file a joint return, unless it was to claim a refund

ENTER W2

You can type in the search bar W-2 and then select Jump To then enter your W-2. Then after you enter the first W-2, select Add another if you had two w-2s from employers.  Do the same thing for the 1099-G.  Enter 1099-G in the search bar and select Jump To and then enter the 1099-G for your unemployment. 

GAMBLING

For your gambling winnings, you can enter W2-G or gambling winnings in the search bar, then select Jump To.  After you enter your gambling winnings, you will be able to enter your gambling losses.  In order to claim gambling losses, you must itemize your return. 

Itemized expenses include mortgage interest, gambling losses up to winnings,  charitable contributions, state and local taxes up to $10,000, medical expenses in excess of 7.5% of your AGI and casualty and losses in excess of 10% of you AGI with the first $100 not counting towards the loss.  

Then your total itemized expenses would need to be greater than your standard deduction below in order to benefit from your expenses. 

The 2024 Standard Deductions are as follows:

• Married Filing Joint (MFJ)              $29,200
• Married Filing Separate (MFS)      $14,600
• Head of Household (HOH)             $21,900 
• Single                                                 $14,600                                

Blind or over 65 and MFJ or MFS add $1,550

Single or HOH if blind or over 65 add $1,950

Standard versus Itemized Deduction

OWE MONEY

 If you are unable to pay your taxes in full, you should still file by April 15th, but you can apply for a payment plan from the IRS.  When you get to the end of TurboTax, prior to hitting file, it will give you the option to apply.