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Why cannot your parents claim you as a dependent? Are you age 24 or older in 2020 and had gross income of $4,300 or more?
I am not over the age of 24 but I did make over $4300. Were they misinformed.
@cperry008 wrote:
I am not over the age of 24 but I did make over $4300. Were they misinformed.
They may have been misinformed. If you are a full time student under the age of 24 they can still claim you as a dependent under the Qualifying Child rules if you meet all the requirements, your income is not a factor. However, if you did not provide over one-half of your own support then you could not be claimed as a dependent. Go to this IRS website for a worksheet to determine support - https://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf
To be a Qualifying Child -
1. The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother, stepsister, or a descendant of any of them.
2. The child must be (a) under age 19 at the end of the year, (b) under age 24 at the end of the year and a full-time student or (c) any age and permanently and totally disabled.
3. The child must have lived with you for more than half of the year. Temporary absences while away at college are considered living with you.
4. The child must not have provided more than half of his or her own support for the year.
5. If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child.
6. The child must be a U.S. citizen or U.S., Canada or Mexico resident for some portion of the year.
7. The child must be younger than you unless disabled.
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