Even if you have signed as an owner-builder on the building permit: 1  you and a builder, contractor or tradesperson must enter into a written contract for domestic building work costing more than $5,000.
1 The parent who the child spends the most time with may claim the dependent. 2  If the child spends equal time between both parents, then the parent with the highest adjusted gross income may claim the dependent. 3  If only one of the taxpayers is the childâs parent, that parent may claim the dependent.
The Dependent Exemption. Single parents who file as Head of Household for 2012 will be able to claim an exemption of $3,800 for themselves and each qualifying child against their taxable income and that can add up. If you have two children, that would reduce your taxable income by a total of $20,100.d Note: Single parents have a unique set of challenges when it comes to filing taxes â but donât overlook the perks available. For some tax tips for the solo mom or dad, we turned to the one and only Issa Mas, a.k.a. Single Mama NYC.