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Submitted By: David
Answered: June 29, 2015 9:06 am
Answered: June 29, 2015 9:06 am
We’re supporting a ward of the state. Can we still claim an exemption for him?
If the child has been placed with you as a foster child by an agency or the government, you can claim a dependency exemption as long as the child has lived with you for more than half the year and the child doesn’t pay more than half of his/her support (foster care payments are provided by the agency, not you). If the child has been placed with you for a legal adoption, the child is treated as your own.
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Tax Glossary
Deductions
Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.
