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Form 1040 (Schedule H) Texas Collin: What You Should Know
Employee and Dependent Exemptions — Employee 1020. Employee and Dependent Exemptions — Employee To qualify for the employee and dependent exemption, your employee must meet both of the following conditions. 1. The employee is a full-time student on a part-time basis, and the amount of the wages paid does not exceed the amount of wages actually paid by the educational institution to the applicant or recipient. 2. There is no dependent (as defined in Section 6012, Subtitle B of the Revenue and Taxation Code).” 1020. Employee and Dependent Exemptions — Employee Exemptions • For the “student”, enter your employee's name in the box for “Student”. • For the “dependent”, enter your employee's name in the box for the person whose income is being determined. Note: A dependent is a person who is an applicant or recipient of income (such as an applicant or recipient of unemployment benefits). • When you answer “Yes”, the employee qualifies for both the employer-provided health insurance premium tax credit and the Dependent Care Tax Credit. If you are claiming a dependent as provided under Section 63.008, Texas Code of Government, that deduction will be taken in place of the health insurance premium tax credit if the credit you are claiming is larger. For the “employee and dependent exemption, enter: Employee and Dependent Exemption — Student and Family • Student is one of the following three-person groups: • Student of a university or a college or university, • Student of a community college, • Student of a community or technical college, • Student enrolled in a school or other educational institution of higher education. • Family member of a student under any of the three-person groupings is also a dependent. Enter “Student and Family” for the student and the “student and family” for the family member. • The tax exemption is the first of its kind in Texas for employees paid on a per-hour or per-project basis.
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