Hi, my parents claimed me as a dependent this year, along with myself claiming myself as a dependent. Is this possible, or do one of us have to amend our tax returns?

[nc1410]

My parents are trying to claim my college expenses, but I claimed myself as a dependent. Can they still get the education credit?

[xmasbaby0]

If your parents can claim you as a dependent but you filed and said on your own return that you could not be claimed, then they have now been prevented from e-filing this year.  The only way they can file a tax return that claims you as their dependent and gets the education credit is to print, sign and mail their return.   You will need to amend your own tax return, but it takes months for the IRS to process an amended return.   They cannot and should not wait for you to amend.   Their only way to file is by mail.

When your return has been fully processed, you can amend and change the way you answer the question in My Info that asks if you can be claimed as someone else's dependent.  Do not amend until your return has been processed.

Select your tax year for amending instructions:

• 2020
• 2019
• 2018
• 2017

     What does it mean to "amend" a return?

·         Do I Need to Amend my Tax Return?

[Mike9241]

the same person can not be claimed as a dependent on two returns. if both are e-filed the second will be rejected. if the second is mailed both parties will get a notice from the IRS asking them to amend. if neither does (and only the person who is not entitled to claim the dependent should amend ) then the IRS will send a second notice asking for proof. the loser gets a bill for taxes, penalties and interest.

You could be claimed as a qualifying child if all these tests are met
• You have the same principal abode as the other party for more than ½ the tax year. Temporary absences like for school are ignored
• If not a full-time student, you’re under 19 at the end of the tax year. If a full-time student under 24 at end of tax year.
• you haven't provided over ½ your own support
• you didn't file a joint return unless there was no tax liability but merely filing joint to facilitate refund of taxes withheld or estimates paid
Or as you could be a qualifying relative if all these test are met
You’re related to the other person or, if not, lived with the other party for the entire year and
• your gross income for 2020 less than $4,300
• the other party provided over ½ your support
• you aren't a qualifying child of another taxpayer

if the parent is eligible to claim you as a dependent they get the education credit.