I have been supporting my boyfriend for the past year and can take him as a dependent for the 2010 tax year, but he wants to file a BK since he owes on his house (underwater by more than 20%, with thousands more in electrical and plubing repairs needed.)
My income for the past 6 months is too high if they count all of it towards his BK, so I'm in a dilemma if I file taxes with him as a dependent than that is what the court will use to base his income on? If I don't take him off, I will be owing the IRS some bucks also. His house is going to be sold on the 28th of March, so time is of the essence. Does anyone have an opinion about this, and can suggest any solutions, or what they would do ig they were in this situation?
Thanks! Sha
My income for the past 6 months is too high if they count all of it towards his BK, so I'm in a dilemma if I file taxes with him as a dependent than that is what the court will use to base his income on? If I don't take him off, I will be owing the IRS some bucks also. His house is going to be sold on the 28th of March, so time is of the essence. Does anyone have an opinion about this, and can suggest any solutions, or what they would do ig they were in this situation?
Thanks! Sha
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