I have a 20 years old son who is junior in college worked during the summer and earned $4000; and I also have a 17 years old son in high school worked during the summer and earned $3500; both son lived with me for entire year; i provided more half of their support; but they both exceeded the $3300; can i still claimed them as dependent?
i thought once a son pass that $3300 dollar then no body can claim them as dependent; is that true?
2007-02-11 04:09:55 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No you can claim them. they are both full time students and you provide more that 50% of their support, they still qualify to be calimed as dependants on your return. Make sure that they do not claim their own exemption on their returns if they are filing to get a refund of the taxes that they paid in.
2007-02-11 04:18:38 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Yes, you can claim them. The $3300 limit is for a qualifying relative. There are two kinds of dependents, qualifying relatives and qualifying children. Since they are both your children, they can be claimed as qualifying children, so the $3300 limit doesn't count. The rules for children are (1) under age 19, or under 24 and a full-time student for some part of at least five months of the year, (2) lived with you more than half of the year, (3) did not provide more than half of their OWN support. There are a few other rules, but these are the main ones that usually keep people from being able to claim a child as a dependent, and from what you said in your question, you're OK on all of these. They are too old, though, for you to get the child tax credit for them.
If they file their own returns to get refunds of anything withheld for federal income tax, be sure that each one checks the box saying that he can be claimed as a dependent.
2007-02-11 06:02:50 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
The $3,300 income limit applies to 'qualifying relatives' not 'qualifying children'. Based on the information you provide, you can claim both sons as dependents. Be sure they both know they must not claim a personal exemption if they file. It would not help them anyway because they made less than the standard deduction and are due a full refund of Federal income tax withheld. See pages 19 and 20 of the 1040 instructions.
pattypuff76 is confused. Because you are able to claim them, the CAN'T claim themselves even if you don't.
2007-02-11 05:49:44 · answer #3 · answered by STEVEN F 7 · 2⤊ 2⤋
You can claim both of your sons as dependents as long as they remain full-time students prior to age 24. They can earn an unlimited amount of money as long as you can prove that you are providing greater than half of their support. The $3300 amount becomes a factor when the taxpayer is trying to determine the dependency of qualifying relatives. There is no doubt that the those amounts of earnings by your sons will not be considered greater than half support by the IRS.
2007-02-11 04:28:18 · answer #4 · answered by illinipower 2 · 1⤊ 2⤋
I agree with Rob, claim them
2007-02-11 04:21:52 · answer #5 · answered by stuart 3 · 0⤊ 0⤋
if they are full time students, i believe you still can...unless the regs were changed while i was taking a nap or traveling overseas.
Read the IRS circular that came with the tax form...they are good and straightforward. And free.
2007-02-11 04:15:47 · answer #6 · answered by McDreamy 4 · 1⤊ 2⤋
I beleive you can claim them only if they're not claiming themselves to be independent on their own taxes.
Everyone's paperwork has to match up.
2007-02-11 04:18:53 · answer #7 · answered by pattypuff76 5 · 0⤊ 6⤋