I graduated with my undergrad degree in May of this past year (2007) and started my 1st "real" job immediately. Up until graduation I was dependent on my parents financially even though I held a part-time job throughout most of college. I lived with them for 5 months after graduation (moved out of their house in November) although I was otherwise financially independent; now I am in my own apartment.
Now that it comes to pay taxes for 2007, do I file as head of household, independent, dependent?!
2007-12-27 08:05:24 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
You file as single (when you live alone you are not eligible for HOH).
Get IRS publication 501 and do the support worksheet. Either you provided more than half of your own support (including any money from loans, but not scholarships--and claiming your share of your parent's expenses for housing you through November) or you didn't.
If if supported yourself, you claim yourself.
If you didn't support yourself and you are 23 and under, your parents would claim you.
2007-12-27 08:09:43 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Unless you have a closely related dependent like a child, you can't file as head of household.
Whether or not your parents can claim you depends whether or not you provided over half of your own support for the year. There's a chart in chapter 3 of IRS Publication 17 to figure support - download it at irs.gov.
If you are over 23 as of the end of the year, they can't claim you.
At a guess, if you are 23 or under, your parents can still claim you so you'd file as a dependent.
2007-12-27 18:08:35 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
thanks for the giggles.
went to school and they don't teach personal taxes any where?
single , not household.
contact IRS.gov or visit library /bookstore for books.
2007-12-27 16:09:48 · answer #3 · answered by Anonymous · 0⤊ 0⤋