I'm 21, and a part time student (half-time during Spring 2016 semester and less than half-time during Fall 2016). I filed my tax return as a dependant because I live with my parents year-round and don't pay rent. My parents claimed me as a dependant but I made a little over $12,000 working part time. Based on Turbo Tax definitions, I don't think I qualify as a dependant because I made too much money and even though I didn't pay rent, I don't think they paid half my living expenses. Their return took into account my earnings and it's part of our household income. My mother's income was earned by babysitting and paid in cash. My parents didn't receive a refund and have to pay a little over $100 in taxes partly because of my mom's earnings not being taxed during the year. Should I have filed as an independent or did I do it correctly whether or not I qualify as their dependant? Can I leave it as is?
Thank you for contacting AnswerXchange. Since you are under 24 and you live with your parents year around and they pay your school tuition, you qualify as a dependent. You can still file your taxes but you will have to check the box which states someone else can claim you.
I actually receive financial aid and I paid one of my own classes this past semester. I thought I didn't qualify as a dependent because I didn't attend full time. And although I'm on my parents return, it didn't seem to benefit them as they had to pay taxes and didn't receive a return. Could this be because my mother didn't pay taxes on her baby sitting salary and is now being charged for it by the government?
Here is a link as to who qualifies as a dependent: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3489827-qualifications-to-claim-a-dependent">https://ttlc.intuit.com/questions/3489827-qualifications-to-claim-a-dependent</a>