Can someone answer this question about my taxes?

Question

I'm 20 years old and I work full-time.. After taking a break from college I moved into my parents home last year, I lived there pretty much the entire year although they do not give me any money and I rarely even eat there. It's just where I sleep occasionally, bathe, and wash my clothes for the most part. My dad wants to claim me on their taxes and is making a big deal about it even though he doesn't really support me otherwise. My question is if I let my parents claim me instead of claiming myself what kind of difference would it make in my return and in their return? My parents have over a 6 figure income together whereas I don't bring in much over 20,000. Thanks in advance for the answers.

Answer 1

Most of the folks have missed the point here. You are over 18, not a full-time student, and made over $3,300 in 2006. Your parents cannot claim you as a dependent. Period.

Grab a copy of IRS Pub 501 from the IRS website and show it to your parents. If they insist on trying to claim you as a dependent, just go ahead and file WITHOUT checking that box on your 1040 and let the chips fall where they may with your parents. One look at your DOB and income and the IRS will deny their claim of the exemption.

Answer 2

If you weren't in school full-time for at least five months of the year, or you provided over half of your own support, then your parents are not allowed to claim you even if they HAD supported you all year. Note that the value of housing that they are providing for you is counted as part of their contribution to your support.

It's not a matter of you "letting" him claim you. If he has the right under the rules to claim you, then he can, with or without any permission from you. If he doesn't, like if you weren't a full-time student and you made over $3300, then you can't "let" him claim you - he's not allowed to, period.

If he is eligible to claim you and just didn't, then you are not allowed to take an exemption for yourself anyway.

So it probably comes down to whether you were a full-time student. And even if you were, if you spent your income on your own support, you probably paid over half of your own support so they couldn't claim you anyway.

Have your dad talk to a CPA, or have him read chapter 3 of IRS Publication 17, if you weren't a full-time student, to see the IRS rules on claiming dependents. Unless you were, and saved much of your income, it's very unlikely that he's allowed to claim you.

Answer 3

If you don't want your parents to claim you, move out of their home and get a place on your own.

Also, at a certain income level your personal exemptions start to get phased out. So I'm not to sure you really know what your parents true income is.

Answer 4

Hi there,
Your parents have no right to claim you on their taxes. Only if they are paying for most of your expenses then they could use you as a dependent on their taxes. If you are paying for most of your expenses and you are just merely living there, they can't claim you. It would benefit you more to file your own tax return. If they were to file, claiming you as a dependent, that would help them a lot if they owe money. But if you withheld a good amount of taxes during the year in your paychecks, you filing on your own would most likely get you a refund. Most definately though they are not required to claim you as a dependent. Hopefull this helps you!!

Answer 5

they have right to claim you, they are providing you housing. The deduction is worth a lot to them at their income and is probably peanuts for you. Dad should charge you rent if you won't let him take you as deduct, imo.

Answer 6

Your parents have to have provided over 50% of your support. They are providing you housing, utilities and food; it might be determined to be half your support.

You still have to file for your income.