Daughter is graduating college this year & will begin working this fall, can I still claim as a dependent?

Answer 1

She might still be your dependent qualifying child for 2007 - IF she is a full-time student for some part of at least five months of the year and is under age 24 as of the end of the year, AND she lives with you for over half the year (temporary absences at school don't count against you here), AND she doesn't provide more than half of her own support for the year. If those rules aren't met, it's slightly possible that she could be claimed as a qualifying relative, but not if she makes over $3400 gross for the year.

The accountant who answered above needs to read up on the REAL rules. He, or you, can find them on irs.gov

Answer 2

I assume your daughter will be under 24 on 12/31/2007 and will have attended college full-time for the Spring 2007 semester. If this is not true, then she cannot be your "qualifying child."

If the above is true, and in addition

1. Her principal home was your home for more than six months in 2007 (including time away at college).
2. She does not provide over half of her own support in 2007.

Then she is your "qualifying child" and your dependent.

Keep in mind that money she may have borrowed to go to school counts as support provided by her. Also, you don't know how much income she will have until the end of the year.

Bottom line: Don't count on being able to claim her as a dependent. As a practical matter, if she is graduated and working by the end of the year, I wouldn't push the issue of taking her dependency exemption. I would let her claim herslef if there was any question.

Answer 3

no. she has to be under 22, AND a full time college student and has to live with you.