Can I amend my taxes so my parents can claim me, and after that can they amend theirs to claim me if we've both already filed?

[trishmcdonaldson]

I am a 21 year old college student. I filed as noone else can claim me. Can I amend my taxes so that my parents can claim me? And if so, once my amendment is processed, can my parents amend theirs and get the additional refund of claiming my and my education credit? And since my net refund would be less, I would owe/have to pay back some of my original refund, but I wouldn't be able to pay it until my dad's amended refund came in, would I have to pay it befote he can amend his to claim me? Or is it too late to consider any of this since tax day is april 18?

[Texas Roger · Accepted solution]

Returns can be amended any time up to 3 years from the original filing deadline. You can amend your return to indicate you can be claimed by someone else if you meet the requirements to be claimed. Your parents can amend their return to claim you. All amended returns must be printed and mailed. It takes up to 16 weeks for amended returns to be processed. 

Have you already received your refund and spent it? 

[trishmcdonaldson]

Yes I have, but the extra refund my parents would receive would be much larger than the refund I received, so they would give me back what my original refund was and I could send back what I owe on my original refund at that time, or I could charge it to a credit card if I had to send it sooner than that, or if it had to be debit/check, I could likely be able to pay it that way before their amended refund is received.

[Texas Roger]

I think your return needs to be sent at the same time or a little earlier than your parents return so that the IRS knows that your parents can claim you based on your amended return.

[janaylanzo]

Can you update me. I'm having this same concern.