No, your mother won't get in trouble, but removing you as a dependent on her return may cost her additional tax. Be sure to include a note with the amended returns explaining that you are no longer a dependent on her return.
Since the stimulus payments are already being processed, you can make an adjustment on your 2020 tax return for stimulus payments you qualify for, but have not received.
To do this in TurboTax, please follow these steps:
- Enter the information in your return.
- Click Federal Review at the top of your screen.
- On the screen, Let's make sure you got the right stimulus amount, click Continue.
- You will be asked about the amounts of first round and second round stimulus payments you received.
- TurboTax will then calculate the amount of stimulus payment remaining that you are still entitled to. This will show as a credit on line 30 of the 1040.
You should check with your school's financial aid office to see if not being a dependent affects your financial aid.