Here's the deal. I am over 25 thinking of going back to college, I live in a house my parents own?

Question

currently,am un-employed, and fully supported by my
parents Can I be claimed as a dependent, and if so
where can I find detailed 411 on tax breaks for them
as a student or un-employed?

I can get pell grants,and stuff but like if they buy me a car ,clothes, utilities,etc:

I can get pell grants,and stuff but like if they buy me a car ,clothes, food,gas for car
things like that.

Answer 1

Good for you for going back to school! I did the same thing as you at that age while living with my parents. I was working full time and going to school part time. If you want to finish faster, I'd strongly recommend working part time and going to school full time if you can find the financing to do that.

That said, you aren't qualified to be a dependent on your parents' tax return. You must be under 24 and a full time student to be qualified (see IRS Publication 501). There isn't much in the way of tax help for them because of your age.

By the way, you might be qualified for more aid if you were living on your own. I realize that if you're not working, that's virtually impossible to do. Not to sound harsh here, but the best thing you could do is get a job that may offer you some tuition reimbursement. I believe UPS does, along with some other major companies. You don't need to be an engineer to find a company that reimburses education costs, so check around and see what you can find.

Good luck with your education!

Answer 2

I'm not entirely sure that I understand your question. Are you planning to apply for financial aid? If so, you will be considered an independent student because of your age. That means that the school will look at your financial situation rather than your parents when figuring how much aid they'll give you. You can get student loans or possibly grants (which you don't have to pay back), depending on how much money you earned last year, and depending on how much money your parents (or anyone else) have contributed to your living expenses in the past year. You should really fill out a FAFSA before you ask your parents to pay for tuition for you. If you've been unemployed for over a year, chances are you'll receive substantial aid. Fill out a FAFSA online at www. fafsa.ed.gov.

Answer 3

ok i'm sorry, yet whilst i will say......... this is quite kinda dumb. I stay with my mum and dad and that i do no longer intend on shifting out till a lil till now i'm married, I pay for all my very own stuff and hire... the fee of residing is costly and a stupid waste of money except you're in a relationship or marriage to proportion the fee or extremely have a reason. that could desire to no longer be a deal breaker and no rely if that's for her, then Im sorry yet you deserve greater proper and he or she could be some distance to immature. i'm hoping this helps you! :)

Answer 4

I don't think you can be claimed as a dependent if you are over 25, but I could be wrong.

Start here about tax breaks: http://www.irs.gov/newsroom/article/0,,id=128874,00.html

Fill out a FAFSA at www.fafsa.edu.gov to see if you're eligible for financial aid (many schools will give considerable grants)

Talk to an admissions officer and a financial aid advisor at the school you want to attend, they should be able to provide very detailed and helpful information.

Answer 5

why can't you support yourself and go to school. it's not fair to have your parents support you this long. you won't be able to go back to school full time but at least you could go part time and feel good about trying to be less dependent on your parents by this time. try to find roommates, lots of people do it.

Answer 6

You can be a dependant at any age.... student, if you're full-time.

Answer 7

hmm well i think you need to find a job