If my father claims me as a dependent, shouldn't I have no tax liability?

Question

I have friends who received huge refunds because they get almost all of there taxes back at the end of the year. I have been living on my own basically since I was 18 and I'm 20 years old now, making almost $35,000 per year as a full-time student. Shouldn't I receive all of my taxes back? I only got about $400 last year after making $25,000.

I'm a student at Northeastern Univ.
There's a co-op program where you work full time for 6 months out of the year. I also work part time when I'm not in school but this year, I had to alter my co-op cycle so I'll work full-time for 9 months. I get paid pretty well because I'm a Computer engineer.

Oh yeah and it's more like $33,000. Sorry.

Answer 1

What is the name of the school that you going to? I want to sign-up and be a full time professional student just like you and make 35k. Your question brings back memories and here is why. You have a group of people comparing notes and in this case you have taxes. Everyone does not know each others particular details regarding their tax situation. Getting big refunds is not a good sign. This tells me that some people get too much money taken throughout the year and end up getting a big refund. These people are letting the government have use of the money without paying interest. I rather break even without having to pay any additional taxes. I think it will be very hard for your father to claim you when you are making 35k.

Answer 2

Making $35,000 as a full time student? Since when was being a student a paying job? If you are not a minor and you're not disabled, how could your father claim you as a dependent, and why would he? The deduction for a child isn't as big as your standard deduction. You probably get to claim an education credit, but what other credits do you claim? Assuming you have a job, you don't sound like a dependent and no you shouldn't get all your taxes back, your last refund sounds about right. If you have more tuition to claim it could be more.

Answer 3

There may have been an error on your return, you have to decide whether to make an issue of it with you father.

Since 2005, a child cannot be claimed as a dependent if that child, of whatever age or student status, provides over half of his own support.

Even though you made $35K last year, it is possible that your father provided over half of your support. In this case, your father is allowed to take a dependency exemption for you, and you would not be able to take your own exemption.

However, if you provided over half of your own support, then no one an claim your dependency exemption. You would claim yourself.

Your filing status is single, and you would have zero or one personal exemptions, not claiming yourself, or claiming yourself. The difference to you is between $330 and $500, assuming there are no other deductions or credits available to you.

If you were paying your own tuition and fees, plus supporting yourself, then the difference to you is more substantial and you may want your tax return reviewed to see if you want to amend your return.

But at least for 2007, learn whether you can take your own exemption, and it would be nice to advise your parent of what you are doing (and file early).

Answer 4

If you make $35k, then you definitely will not get everything back. If you make $35k, your father shouldn't be claiming you on his return. One the requirements for claiming someone is that they do not provide more than half of their own support. It would be tough to argue this at $35k per year. You would get more back if you claimed yourself.