Claimed wrong amount on taxes?

Question

Hi, my parents and I messed up last year while filing our taxes. I claimed myself, and my parents claimed me as a dependent. I don't know what to do to fix it. All I got was a paper from the IRS telling me to fix the problem, but didn't tell me how.

Answer 1

You and your parents need to figure out whether or not they were eligible to claim you. If they were, then you'll file an amended return dropping your claim to your exemption. If they weren't eligible to claim you, then they'll file an amended return.

For an amended return, you use form 1040X. You can download it and the instructions at irs.gov. Your best bet is to also download a blank copy of the form you used last year (be sure to download the right year's form) and fill it in correctly. The 1040X asks for changes, so that way if you have what you filed and what you SHOULD have filed, filling out the 1040X will be easier.

Answer 2

Talk to your parents.

I could be wrong, but sounds like a job for a C.P.A.

I think if they claim you they also have to declare your income. There are other rules like if you lived in their house ant your line 32 is less than line 8 but greater than a breadbox, etc. See a CPA or H & R Block. It'll only cost you about $100 bucks but at least it'll get done right. This year (with the confusion over your dependency) is weird tax wise. Get a pro.

Answer 3

You would want to see which way of filing is more advantageous, then either you or your parents will have to file a 1040X to correct the problem. You can find the form on the IRS website, just search for 'form 1040X'

Answer 4

File an amended tax return to correct it.

Answer 5

File a 1040X to and remove yourself as a dependent.

Answer 6

Yes, do an amended return. Go to irs.gov for instructions.