home this past semester. Will not claiming him as a dependent mess up any school financing, scholarship packages, etc. (I know it will mess up my refund.) Concerned since co-op put him a year behind in traditional college years and he will be over 21 by graduation.
2006-12-31 10:19:44 · 3 answers · asked by whozethere 5 in Business & Finance ➔ Taxes ➔ United States
I know I can claim him. The question is by not claiming him will I mess up financial aide and scholarships for the following years.
2006-12-31 13:03:23 · update #1
From your description only you can claim him as a dependent. He cannot claim himself, so you might as well claim him regardless of the school financial aid situation.
2006-12-31 14:42:18 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
You can claim an exemption untill he turns 24 as hes a student.
2006-12-31 19:35:30 · answer #2 · answered by welshman in texas 2 · 0⤊ 0⤋
Whether he can be claimed depends on who is providing the majority of his support. Add up all of his costs (rent/occupancy, food, utilities, clothing, tuition, entertainment, car/truck expenses, etc.) If the majority of those expenses are paid by you, the exemption is yours.
2006-12-31 18:24:04 · answer #3 · answered by Scott K 7 · 0⤊ 0⤋