I need to find out if I am a dependant?
I am 18 I live with my parents I am a student I earned more than $10,000
Do my parents still claim me, or do I need to file my w-2?
Jon
I need to find out if I am a dependant?
I am 18 I live with my parents I am a student I earned more than $10,000
Do my parents still claim me, or do I need to file my w-2?
Jon
See Table 3-1 in Publication 17 (Page 26) for the definition of Dependent. See Table 1-2 in Publication 17 (Page 6) for your filing requirements Read also about the Support Test on Page 28 of Publication
Sorry about the bad news. Welcome to the working world. You don't have to take my word for this. Check out the details yourself.
Probably both.
Unless you provided more than half your own support for the year you are your parents' "qualifying child." That makes you a dependent. You still must file your own return because of your income. Assuming that at least $5,150 of your income was from working you will get that amount as your standard deduction, but you get no personal exemption. If you have just turned
18 in 2007 and had more than $1,700 of investment income you must compute your tax on Form 8615.-- Phil Marti Clarksburg, MD
wrote
Possibly both. Your parents could still claim you as a dependent, and, you need to file your own return for that $10,000.
-- Paul Thomas, CPA snipped-for-privacy@bellsouth.net
snipped-for-privacy@gmail.com posted:
Yes, and yes. The relationship of parenthood is a special one, according to the IRS -- and so long as you live at home and are a full-time student, your parents claim you until age 24. However, you should still file a return of your own, to report your earnings. And you must acknowledge that you _could_ be claimed as a dependent. That's inevitable, under IRS regs, and you will therefore be unable to claim yourself as an exemption. That doesn't mean that you will still owe more tax. Depending on the amount withheld (and you should have filled out a W-4 claiming _no_ exemptions), you might well receive a refund ... but that is separate from your status as a dependent. This is all detailed with reasonable clarity in Pub 17 for
2006, beginning at the bottom of page 25, with a excellent chart and specific "caution" on page 26. Bill
Whether your parents can claim you or not, you need to file your own tax return. If you lived with them more than six months, then they can claim you as a dependent if you did not provide more than half of your own support. There are worksheets you can use to determine this if you aren't sure. One example can be found here:
You are the qualifying child of your parents for them to claim the dependency exemption as long as you have a taxpayer ID, you're a US citizen or US resident alien or US National or a resident of Canada or Mexico, and the amount of time spent living with your parents was greater than 6 months and you are not self-supporting. You are self-supporting if after adding up the total cost to support you for the year, you actually contributed more than half by providing your own funds. Support includes lodging (actual rent paid or fair rental value of the space provided to you), repairs to the household, food, utilities, clothing, education, medical, dental, travel, recreation and any other personal expenses.
-- Alan
Well I just don't know the answer. (And I've been around a while, too.) it depends on this - whether or not your parents provided more than half of your total support. You and they are just going to have to do the numbers to find out. There are worksheets for this, just look at IRS publication 17. ChEAr$, Harlan Lunsford, EA n LA
Harlan, I'm ashamed of you. Here Congress goes to the trouble of simplifying the law with the nonuniform uniform definition of a qualifying child, and you mess it up. Since
1995 the question is whether he paid more than half his own support. Whence comes the rest of it is irrelevant. Phil Marti Clarksburg, MDModerator: Whenever I hear "tax simplification", I reach under my pillow and click off the safety catch on my gun.
Well be ashamed no longer. Since he lived with his parents all year, if his parents did not provide more than of his support, chances are that he did, and they can't claim him. He claims himself. Support is still required for an exemption.
ChEAr$, Harlan Lunsford, EA n LA
Moderator:
Every time a Tax Simplification Act is passed, the Internal Revenue Code grows by at least 20%. Stu
You'd think so, wouldn't you? But it's simply not the case since 2005. In this case, where OP is 18, his grandparents, who don't live in his household, could be providing his support. He would be a qualifying child of his parents, with whom he lives, but not of his grandparents because of the residence test. Now let's make him 19 and working full-time. He's still living at home with his parents and a 16 year old sibling. His parents provide all support for both him and sibling. He's not a qualifying child because of age, and he's not a qualifying relative because of income The younger sibling is the qualifying child of both the sibling and the parents. When one person is the qualifying child of more than one person, they're free to decide who "uses" the child. Now let's make the parents rich, so personal exemptions and CTC are worthless. The 19 year old can claim the sibling as a dependent, get the CTC, and perhaps even EITC even though he contributes not a penny to the sibling's support.
-- Phil Marti Clarksburg, MD
Support is still required for an exemption.
It is really not the same. A child could have all of his support coming from complete stangers and or government assistance of some sort. The parents could still claim the dependency even if they contributed nothing, as long as the child himself did not provide over 50% of his own support.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.