Can you use TurboTax with multiple w2s?

You can also enter your W-2s in the Wages & Income section of TurboTax. TurboTax will simply ask you: Do you have another W-2 to enter? Click 'yes', and you're on your way.

What is the purpose of a multiple support agreement?

Use Form 2120 to: Identify each other eligible person who paid over 10% of the support of your qualifying relative whom you are claiming as a dependent, and. Indicate that you have a signed statement from each other eligible person waiving his or her right to claim that person as a dependent.

What is allowed by the multiple support declaration?

To claim someone as a dependent, you must pay over 50% of that person's living expenses (support). If no one meets this support test, but two or more of you together provide over 50% of a person's support, then one of you can claim that person as a dependent.

Who must complete form 2120 multiple support declaration and file it with their tax return?

Taxpayers use Form 2120 when they want to claim a relative as a dependent on their tax return, but they don't pay enough of the cost of supporting that relative to do so under normal tax rules. If other people who contribute to the cost of caring for that relative agree, the taxpayer may be able to claim the dependent.

What is a multiple support agreement and what is its purpose?

Answer and Explanation: Multiple support agreement permits a taxpayer to claim dependency exemption of a dependant when more than one taxpayer is supporting that dependent. Permission to claim the exemption is granted by other taxpayers who are financially supporting the dependent.

What is the purpose of the multiple support agreement quizlet?

The purpose of the multiple support agreement is to allow one member of a group to claim a dependency exemption when the members together contribute more than 50% of the support of another person and each member of the group contributes over 10%.

What is the multiple support agreement?

A multiple support agreement is a document which is signed by two or more taxpayers who provide the financial support for a single dependent. This agreement allows several persons who jointly support a dependent to take turns claiming this person as a dependent on their tax returns.

What is a multiple support agreement and what are the requirements?

A multiple support agreement is a document which is signed by two or more taxpayers who provide the financial support for a single dependent. This agreement allows several persons who jointly support a dependent to take turns claiming this person as a dependent on their tax returns.

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Q: Can you use TurboTax with multiple w2s?

You can also enter your W-2s in the Wages &amp; Income section of TurboTax. TurboTax will simply ask you: Do you have another W-2 to enter? Click &#039;yes&#039;, and you&#039;re on your way.

Form 2120 Multiple Support Declaration Attach to Form 1040 or Form 1040A of Person Claiming the Dependent. (Rev. January 1994) Department of the Treasury Internal Revenue Service OMB No. 1545-0071.

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