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.
To be allowed to claim your parent as a dependent, your parentâs earned income cannot be more than$3,900 for the 2013 tax year. This means that if your parent earns more than $3,900, you arenât eligible to claim them as a dependent. Non-taxable income, such as Social Security, does not count toward this amount.