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.
Her parents can claim an exemption for her on their income tax return. She received $1,970 of taxable interest and dividend income. She did not work during the year. She must file a tax return because she has unearned income only and her gross income is more than $1,050.