When filing taxes or applying for financial aid, how do I know if I'm considered independant or not.
2007-10-21 16:35:48 · 4 answers · asked by ozo2004 2 in Business & Finance ➔ Taxes ➔ United States
A person of any age who provides over half of his own support cannot be claimed as a dependent on anyone's tax return.
A person over age 18 (unless a full-time student, in which case they would have to be over age 23) cannot be claimed as a dependent if they earn over $3,400 a year, even if they do not support themselves.
Criteria for independent student for financial aid as defined by FAFSA is here:
http://www.fafsa.com/independent.htm
2007-10-21 17:14:06 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
For filing taxes, your would be considered independent if you provide over half of your own support, or if you are at least age 19 and not in school, or if you are over 23 even if you are in school.
If your parents are still supporting you or you are still living at home, rules can be different for "independent" for financial aid purposes.
2007-10-22 03:07:35 · answer #2 · answered by Judy 7 · 1⤊ 0⤋
if your parents can claim you as a dependant (you lived with them and you are 19 or younger... ) you're considered a dependant when filing taxes, but i'm unsure about the financial aid part... sorry.
2007-10-21 16:53:27 · answer #3 · answered by stephanie_hamett 2 · 0⤊ 0⤋
Does someone else pay more than 50% of your support? If so then you cannot claim yourself as a dependent.
2007-10-21 18:07:52 · answer #4 · answered by katawabeda 1 · 0⤊ 1⤋