If you're a college student who took a year off but are still living with your folks, can they still claim you as dependent on their taxes? Does it depend on what I made this year? Even though I made a decent amount, I'd say I'm still dependent on them.
Thanks.
2007-03-05 05:13:41 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Bostonian, thanks for all your help! If they can't claim me as a dependent, will they owe more in taxes? I feel horrible :(
2007-03-05 07:26:42 · update #1
If you're 19 or over and not a full-time student, your parents can only claim you as a dependent if you earned less than $3,300 AND they provided more than half of your support. If your income exceeds $3,300 they can no longer claim you as a dependent REGARDLESS of how much support they provided. If they do, the IRS will eventually figure it out and they'll have to pay the back taxes along with penalties and interest if the IRS discovers it after the filing deadline.
2007-03-05 05:49:57 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If you're under 19 and don't provide over half of your own support, then they can claim you. Or if you're under 24 and a full-time student for some part of at least 5 months of the calendar year. Or if you didn't make over $3300 for the year, and they provided over half of your support, they can claim you.
But if you're over 19 and made over $3300 and aren't a full-time student, then no they can't claim you even if they support you.
2007-03-05 11:26:28 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Bostonian is correct. you might be dependent on them but according to tax law you are not *A* dependent since you made a decent amount.
2007-03-05 07:04:22 · answer #3 · answered by RichManPoorMan 2 · 0⤊ 0⤋
Yes, if they supported you, they sure can!
2007-03-05 05:16:18 · answer #4 · answered by BW 2 · 0⤊ 2⤋