Who should claim our daughter, my boyfriend or I, in order to get the most money back from our taxes? We are both single. Since he makes more money than I do, would we receive more back if he claimed her? Or would I get more money back for claiming her si

ANSWER

The BIDaWIZ Team's Answer:

This question depends on two variables. The first variable is

the tax bracket that each parent is in. The second variable, is the

dollar amount that was withheld from each parent's compensation. 

The general rule is that the parent with the higher adjusted gross income

should claim the child as a dependent, because this parent is in the 

higher tax bracket. The exception, is when one parent is eligible 

for an earned income tax credit. If this is the case, usually the parent 

who is eligible for the earned income tax credit should claim the child.