Taxes - Being Claimed

**Secret Stash** · 05-20-2008, 11:45 AM

I am still living at home, I made about $20K last year. My parents didn't not claim me last year (2005) because I thought I would be able to file as independent but I didn't make the age requirement. This year I allowed them to claim me, and then we split the extra money. But I'm worried about this year coming up when I'll finally have a "real" job and be making "real" money.

**noppenbd** · 05-20-2008, 12:36 PM

You should have your parents do their taxes both ways, and you should do yours as an independent and see which is more profitable. If you are making real money and providing more than 1/2 of the income needed to support you, you really aren't a dependent any more unless it is more advantageous to do it that way.

**tripods68** · 05-20-2008, 12:39 PM

My brother was the same way. Except last year, it was his first time he ever filed an income tax at 23 years old while going to college FT and living at home.

**Secret Stash** · 05-21-2008, 06:27 PM

My parents normally do their taxes on time. I'm worried about taxes due by April 15th 2009. I'll be 23 this year and my future job as a nurse would have me making the same if not more money than my mother...it just doesn't seem right that I could be claimed as a dependent.

**coaltrain** · 05-21-2008, 09:35 PM

You're right. You should be considered independent. I wrote an essay stating my case as to why I should be considered independent status. I wish I knew who the essay went to. My college's financial aid depart. took care of it for me. My job was to just write the essay. Mention what I said to your school's fin. aid depart. and I'm sure they would be able to guide you through the process.

**noppenbd** · 05-22-2008, 04:49 AM

Originally posted by coaltrain View Post

You're right. You should be considered independent. I wrote an essay stating my case as to why I should be considered independent status. I wish I knew who the essay went to. My college's financial aid depart. took care of it for me. My job was to just write the essay. Mention what I said to your school's fin. aid depart. and I'm sure they would be able to guide you through the process.

Coaltrain, I think OP's original question was about being claimed as a dependent for tax purposes. You seem to be talking about independence for financial aid purposes, which has different qualifications. As far as I can tell it is harder to be qualified as an independent student. This makes sense as the EFC is lower for independent students (since parents' income and assets are not considered) so there is more incentive to be independent for FAFSA purposes.

**coaltrain** · 05-22-2008, 05:39 AM

Originally posted by noppenbd View Post

Coaltrain, I think OP's original question was about being claimed as a dependent for tax purposes. You seem to be talking about independence for financial aid purposes, which has different qualifications. As far as I can tell it is harder to be qualified as an independent student. This makes sense as the EFC is lower for independent students (since parents' income and assets are not considered) so there is more incentive to be independent for FAFSA purposes.

Oops, I wasn't even thinking. I must've read his post to my liking, lol.

**Secret Stash** · 05-31-2008, 02:43 PM

I provide most of my own food, but I do eat at home sometimes. I would say I consume $50 a month if that. I won't have medical insurance, because I can't be picked up onto theirs. My parents do not pay any of my bills. I pay my own car payments, car insurance, and for my education. I don't have any children either.

**Like2Plan** · 06-01-2008, 04:46 AM

Originally posted by Secret Stash View Post

Hi, I'm new to the forum and I need help about taxes. I'm 22 years old, I work full-time, I'm also in college full-time for a 2nd bachelor's degree. I need help with taxes. This year I ended up owning about $300 in taxes, because I filled out the papers wrong.

I think I have that fixed now for next year. But my question is ... is there any way to get around the being able to be claimed as a dependent thing? I was not eligible for the stimulus checks because I can be claimed as a dependent.

link to IRS Publication 501 - Main Contents
Dependent Taxpayer Test

If you could be claimed as a dependent by another person, you cannot claim anyone else as a dependent.....

Qualifying Child
There are five tests that must be met for a child to be your qualifying child. The five tests are:
1. Relationship,
2. Age,
3. Residency,
4. Support, and
5. Special test for qualifying child of more than one person.
These tests are explained next.

"Support Test (To Be a Qualifying Child)

To meet this test, the child cannot have provided more than half of his or her own support for the year.

This test is different from the support test to be a qualifying relative, which is described later. However, to see what is or is not support, see Support Test (To Be a Qualifying Relative), later. If you are not sure whether a child provided more than half of his or her own support, you may find Worksheet 1 helpful. " (go to the link to find the worksheet)

**maat55** · 06-01-2008, 05:18 AM

Tell your parents that you are claiming yourself next year. You need the write off more than they do.

Taxes - Being Claimed