[Anonymous]

Hey Guys. New to the forum. I had a question with respect to the new qualifying child requirements. Per the IRS website, the following are changes to the Qualifying Child Exemption requirements.

•Child must be younger than the taxpayer.

•A child cannot be your qualifying child if he or she files a joint return, unless the return was filed only as a claim for refund.

•If the parents of a child can claim the child as a qualifying child but no parent so claims the child, no one else can claim the child as a qualifying child unless that person’s adjusted gross income (AGI) is higher than the highest AGI of any parent of the child.

•Your child is a qualifying child for purposes of the child tax credit only if you can and do claim an exemption for him or her.

Does this mean that the old requirements are thrown out or just updated with the above? I am taking REG early January 2010 and was wondering if anyone knew if the CPA would test the above or the old. I am assuming the new but I am nervous.

Thanks for all advice!!

Ed

[jeff]

Phil Yaeger is filming the 2010 REG course right now…I've e-mailed him and asked him his thoughts on the old vs new rules.

[jeff]

Update: Use the 2009 rules because we're getting ready to prepare 2009 returns. Whatever is in your review text – go with that.

-Jeff

[Author]

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