I will turn 18 in April, but I want to file myself as indepent on my taxes, and not have my parent claim me- for FAFSA purposes. I pay for more than 90% pf my own expenses, and I will be paying for my college out of my own pocket.
2007-02-13 04:02:53 · 8 answers · asked by sn1per0nther00f 3 in Business & Finance ➔ Taxes ➔ United States
Acutally, I did a FAFSA estimator, and if I file dependent, then I have to contribute $10,000 to my education, none of which my parents will pay. If I file independent, then it drops to $99. I know that the money that my parents get from my exemption will not pay for any of my education, I think it is more helpful in my favor to file independent.
2007-02-13 05:06:25 · update #1
Yes you can as long as your parents do not claim you however, you will not be able to claim head of household if you reside with your parents.
2007-02-13 04:08:41 · answer #1 · answered by micg 4 · 1⤊ 2⤋
If you are living at home it is not likely that you are actually paying more than half of your own support once ALL expenditures are taken into account such as housing, utilities, food, medical care, etc.
If you think that you do provide more than half of your own support, you should discuss this with your parents first. The have first shot at your exemption and if they claim it your personal exepmption will be denied by the IRS.
What you might be doing this year or next year as far as tuition and support costs go has nothing to do with what happened in 2006. That tax year is in the history books and your parents are most likely to benefit more from your exemption than you are.
2007-02-13 12:15:59 · answer #2 · answered by Bostonian In MO 7 · 3⤊ 0⤋
There is a worksheet on page 32 of IRS Publication 17 (download at irs.gov) that can be used to determine who provides what part of a person's support. If you fill that out and still feel you are providing most of your own support, then yes you can file and claim your own exemption. It would be a good idea to talk to your parents first, and go over the form with them and see if they have other info that you didn't put on the form.
2007-02-13 12:47:17 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
If you have enough earned income to pay taxes, you can file and claim yourself as a dependent. Be careful, though! If a parent also claims you as a dependent the IRS will catch it!
Really look at who would benefit the most by claiming you as a dependent. It all comes down to something called the Marginal Tax Rate you and the other person are in.
2007-02-13 12:08:43 · answer #4 · answered by the_pharaoh109 4 · 0⤊ 2⤋
File your return. Age has nothing to do with it.
Since you are paying for more than 90% of your own support, you are suppose to claim yourself. Did you live at home? If yes, your parents will want to claim you since it means more to them. Make sure your parents DON'T claim you if you are claiming yourself.
2007-02-13 12:17:18 · answer #5 · answered by Dizney 5 · 0⤊ 1⤋
If you provided over half of your care, you are on your own, then you may claim yourself. If you are still under their roof, you better have a conversation with them about this, and perhaps a tax professional.
good luck & bless
2007-02-13 12:09:42 · answer #6 · answered by Wood Smoke ~ Free2Bme! 6 · 2⤊ 1⤋
you can claim yourself if you r provided half of the care
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2007-02-16 00:11:44 · answer #7 · answered by deon m 1 · 0⤊ 0⤋
why on earth would you file taxes under the age of 18???
2007-02-13 12:10:46 · answer #8 · answered by Athera78 3 · 0⤊ 6⤋