Is my college student a dependent on my tax return?
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- เผยแพร่เมื่อ 17 ต.ค. 2022
- This question comes up a lot! Misunderstanding this topic is also a common reason why tax returns I prepare for parents of college students get rejected when they try to claim their student on their tax return. Is your college student a dependent on your tax return or can they claim themselves on their own tax return?
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*Disclaimer: All information contained in my videos are for general educational purposes only. These videos are not meant to be used as tax advice for any specific individual, business, or other entity. You should consult with a CPA or other professional before making any decision that impacts your tax and financial responsibilities. Additionally, I am not a Certified Financial Planner and I do not give investment advice. Any information contained in my videos related to budgeting, finances, or investments are solely my opinions and are not intended to influence specific decisions you may make as it relates to your finances.
Thank you for the info. This is highly helpful.
Glad it was helpful and thanks for watching!
Great video, answered all my questions
Awesome. Thanks for watching and for the feedback.
Thank you! My son made over $20K because he works FT and goes to school PT. This video made it easy for me to understand and take notes from!!
Glad it helped! Thanks for watching Candace.
Thank you so much for this, I’m a 20yr old college student, don’t think i could afford a financial advisor my mom has been putting me on her taxes and I have never filed so I’m trying to learn myself because my mom is unsure
I'm glad the video was helpful. Thanks for watching!
Great breakdown
thanks for the feedback and for watching!
Okay I think I have this right and thank you so much for this video. Please let me know if I'm on the right track. I have 2 sons that both graduated this year. Both were in school full time.
Son A got a job in late June and makes a modest but significant income. But through June he lived with me or in the college dorm and I payed for 100% of his expenses. And even though he's on his own, as a way to help him launch, I'm paying for half of his rent (just during 2023- then he's on his own). Your video clarified for me that he qualifies as a dependent and I should receive the child credit for him - and he should file his own return, so his income does not go on my return. I think when he started his job, out of ignorance he marked that he would claim himself on his W-4, so I've asked him to correct that.
Son B has not gotten a professional job yet, and so far (as of September) doesn't have a job. This son studied in Spain during his final school year before graduating. We paid for this education in Spain - it was a Spanish immersion program not associated with the college he graduated with. He has documentation from the International School in Spain showing he was full time until June of this year and he has a certificate of completion. From the university here in the states that he graduated from, he was part time until graduation - but full time in the International program. I can't find any reason not to identify this as full time education, and I was 100% paying for his expenses while he was in Spain ( CLIC Centro de Lenguas e Intercambio Cultural). So I believe that he also is a qualifying dependent for me, no matter how much he earns, but if he earns less than $6,300 he doesn't have to file at all.
Did I get this right? If so, thanks so much - until I saw your video I was so confused!
Thank you for watching and commenting... that's a lot of details.... You have to provide >50% for the entire year. There's a support test worksheet in IRS Publication 501 page 16. If it isn't obvious that you provided more than 50% support, I would use the worksheet. The "child tax credit" is only for children under 17. So even if a child is your dependent you will not get the child tax credit if they are 17 or older. You'll get the other dependent credit potentially.
I'm not sure where you got the $6,300 number from.
Depending on the age and other information if a relative made more than $4,400 in 2022 then they wouldn't be a dependent. But there are a few different factors. You can follow the flow charts on the 1040 instructions PDF pages 17,18,19.
If you have more questions I'd recommend you reach out to a professional to help you with your specifics.
Thank you for this information as my college student was (1) expecting to get the stimulus money and didnt understand why (2) has been asking the last couple years if he should file on his own because some of his peers said he should. I have a question when it comes to student loans I've co-signed on for his education. Is that considered supporting my child from a dependent perspective?
I don't think the co-signature on the loan counts as support you provided. You can double check publication 501 where there is a support test worksheet. However, if you are liable for and make payments on the loan, the student loan interest might be deductible for you.
My 20yr daughter at college made less than $4500. and she filed her taxes for the 1st time and checked the box that states someone else can claim her and the other box asking if they will be claimed, which she checked. But when my wife and I try to file our return we don't qualify for the college tax credits, which we received last year. The only thing that changed was she filed taxes for the first time. Can you please help! Thank you
I'm not sure how you're determining that you don't qualify... if the program is telling you that you don't qualify or if you're trying to efile the return and it is rejecting... Based on what you've stated it seems like you would be able to qualify for the education credits for your dependent daughter. There is an income limit phase out. So if you're income is higher than that limit you would not qualify for the education credits even if you otherwise qualify. Unfortunately that's about all I can help with in a TH-cam comment. If you're unable to determine the proper action I would recommend you hire a professional to help you with preparing the tax return. Thanks for watching and for commenting!
My son is 23, lives at home with myself and his mother, and is only taking 6 college credits a semester. He makes about 11,000 a year from a pt job, but we pay everything related to living expenses at our home. So I can not claim him as a dependent because he is only a part time student?
David, thanks for watching and commenting. That's sounds correct. You can confirm in the instructions to form 1040, which have good flowcharts for dependents. If he's not a student (defined in the instructions as full time for at least part of 5 different months of the year) then he isn't a qualifying child. A qualifying relative cannot make more than $4400 and be a dependent so he can't qualify as a dependent there either. So it sounds like he doesn't qualify as your dependent.
Non- custodial parent of 18 year old. Mom wants
me to pay 8,000 a semester (1/2) for his college. Can I claim a credit if she claims him as a dependent?
Hey Brenda, thanks for watching and commenting. You cannot claim tuition education credits for someone that is not on your tax return as a dependent or spouse.
Hi. If my daughter received part of her dad’s GI Bill (we are divorced) but lives with me when not in college and does not work can I claim her as a dependent?
Hey Sandra, that is a good question. I don't know the answer to that off the top of my head. That would take a little research. Perhaps start with publication 501 and see if you can find the answer there.
If my son is 21 years old, lives with me, a full time college student but made 16 k, can I claim him as a dependent? Would he still file his own tax return and put yes someone else can claim me as a dependent on his return?
Hi Mar, thank you for watching. A biological son, under age 24, who is a full time student meets several of the criteria for being a dependent. Another criteria is do you provide greater than 50% of his support. Even if he is a dependent, he still needs to file his own return making $16,000 a year. I'd recommend you check the first few pages of the 1040 instructions which cover pretty well who has to file as well as a flow chart of who qualifies as a dependent. If you aren't confident in how to proceed after doing that then you should definitely hire an experienced professional to help you out.
I also had to Get a 1098T Form from my son college also
Yes, the 1098-T is critical. It can also be good to have a record of all financial transactions from the finance office of the college since the 1098-T may not be all inclusive...
@@IntentionalFinance101 Oh My Thank You So much, I actually just told my Son to go to his college office and get those forms for me, my son Grandma on his dad side carried My son on her taxes with no permission, I have never ever allowed anyone to carry my son, Only Me , his entire 18yrs, and the IRS rejected my taxes, and gave her the refund, so now my tax lady did a mail in certified tax for me , and now I'm waiting to see what will happen, and his grandma didn't even use his 1098T to file her's behind me and my son back
@@OGCuties That is a pain when that happens and filing on paper is the only way to handle it. You may also end up with a letter from the IRS that you'll have to respond to as well.
Hi, I’m currently pregnant and live with my boyfriend. He pays all the bills including mines and im a full time college student 2nd year. Can he claim me in his taxes and also how much would he put $2,500 or $500 on the deductible please answer thank you.
You aren't a qualifying child, so you'll need to check qualifying dependent on page 19 of the 1040 instructions. It sounds like he might be able to... you have to live with him the whole year, he has to cover more than 50% of your living expenses, and you cannot make more than $4400 (in 2022). There are a few other items too (like be a US citizen and have a SSN). Check those items in the 1040 instructions and if you still aren't sure you should hire a tax professional to prepare the return for you.
Can I be claim as a dependent if meet all that criteria but I made 24000 in the year?
Depends on more factors and who is trying to claim you as a dependent. Go to pages 18-19 of the 1040 instructions and walk through qualifying child. If that isn't you then walk through qualifying relative and other dependent.
www.irs.gov/pub/irs-pdf/i1040gi.pdf
I have parent plus loans that i dont start paying for another 2 yrs. Do i get to write that off on my taxes? Im confused when it comes to the college tuition questions on tax return
student loan interest can be deductible... it has to be in your name and you have to be making payments.
check out IRS publication 970
@@IntentionalFinance101 so I cant actually write it off until I start paying, correct?
@@Roowzer you can't deduct student loan interest until you pay interest on the loans (it will be reported to you every year on a 1098-E). However, if you're referring to tax credits related to the tuition itself, that would be done in the year the tuition is paid (whether with cash or with loan money)
@@IntentionalFinance101 perfect thanks so much for your help! Have a great day
Helo Wooden I'm in pickle 🤯 help please so my daughter used her dad(We Not married) info last yr this year for college but she made 9k part time -as well does her HAVE TO (legally) claim her in this year tax file??
Hi Yanet, thank you for watching the video. I'm sorry, but I'm not able to understand what you're trying to ask. I'd recommend you check the first few pages of the 1040 instructions which cover pretty well who has to file as well as a flow chart of who qualifies as a dependent. If you aren't confident in how to proceed after doing that then you should definitely hire an experienced professional to help you out.
Thank any way for responding
What about for an independent student who was a ward of the court after their 13th birthday (but was adopted at 14). I was that independent student
That's a good question. I haven't come across that, so I'd have to look into it more... seems like once you're adopted though then you are just like any other child of that parent and can follow the regular dependency flow charts in the 1040 instructions.
@@IntentionalFinance101 maybe. However, I did receive a financial aid verification of court /state ward status , that states I was legally an independent student. There were grants that I qualified for with that document. However I missed out on 1 because of an age deadline. I asked my adoptive mother if she knew and she admitted that she did and chose not to tell me. It was a spiteful thing to do. Thank you for your response 🙏🏾
Hi. Thank you for this video. Can we (my husband & I) file taxes with my son who is a F-T college student dependent from us but worked during summer ($3,300)? Thank you.
The 1040 instructions have a good flow chart of who is a dependent. If he only made $3300 and he's a full time student (under age 24) then I would expect he's most likely your dependent (you covered >50% of his support).
@@IntentionalFinance101 I am filling my taxes with Turbo Tax (Deluxe) and where I could input his W-2 because he has some federal withheld income tax (108 + 208 SS) or doesn't matter? Thank you for your prompt reply. I really appreciate it!
I don’t use TurboTax, but if you need help with their software you’ll need to contact them. The entire w2 should be entered in. If you need assistance I recommend you contact an experienced preparer.
My son graduated Spring 2022, been working n living with us (saving $$) so is it better for him to file for himself? Oe me claim his as dependent?
Lareggie, thanks for watching. It doesn't matter which is "better". He either qualifies as your dependent or he doesn't. If he doesn't, you can't claim him. If he does, you don't have to claim him but he still must check the box that someone else can claim him. Review the dependent qualification steps which are laid out very well in the form 1040 instructions.
@@IntentionalFinance101 thx, just trying to figure out which filing outcome is better, ie claim n include his $50k earnings on my taxes or let him file his own with the dependent thing in mind
@@lareggiejones6617 It's my opinion you need to hire a professional. I don't think you reviewed the 1040 instructions as I recommended... First, you would never put his income on your return, even if it he does qualify as your dependent. Second, I find it very hard to believe he'd qualify as your dependent making $50k a year... the tax code defines a dependent and you need to read those instructions because I doubt he qualifies.
Can I file independently from my parents if I want to even if they paid my tuition, but I made solid income?
Hey Ezran, thanks for watching. You can (and may have to) file your own return whether you are your parents dependent or not. There's many reasons you may need or may want to file your own return. That is separate from being someone else's dependent. You should walk through the dependent criteria is form 1040 instructions and the support test worksheet in publication 501 (www.irs.gov/pub/irs-pdf/p501.pdf) if you aren't sure.