Tell him NO. If your college student can be claimed as your dependent and you remove him by amending ---you will lose the $500 credit for other dependents for claiming him and more importantly you will lose any education credits you have received for claiming him. You did not and could not have received stimulus check #1 or #2 for him since parents only received those checks for children younger than 17. Explain that to him.
If you have claimed him as your dependent for 2020 you do get that 3rd stimulus check of $1400 for claiming him, because the new tax law changed the criteria for that check. Dependents do not receive stimulus checks. The rule is if a person CAN be claimed as a dependent then they must say on their own return that they can be claimed as someone else's dependent.
Certainly if you CAN claim your son you do not want to encourage him to commit tax fraud. If you choose to share the $1400 with him, that is your choice. For your dependent:
https://ttlc.intuit.com/community/dependents/help/when-do-i-have-to-answer-yes-to-being-claimed-as-a...
If he was a full-time student in 2020 he is your qualifying child dependent--and that is not his "choice"-- it is the rule.
WHO CAN I CLAIM AS A DEPENDENT?
You can claim a child, relative, friend, fiance (etc.) as a dependent on your 2019 taxes as long as they meet the following requirements:
Qualifying child
•They are related to you.
•They cannot be claimed as a dependent by someone else.
•They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
•They are not filing a joint return with their spouse.
•They are under the age of 19 (or 24 for full-time students).
- No age limit for permanently and totally disabled children
• They live with you for more than half the year (exceptions apply).
Qualifying relative
•They don't have to be related to you (despite the name).
•They cannot be claimed as a dependent by someone else.
•They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
•They are not filing a joint return with their spouse.
•They lived with you the entire year.
•They made less than $4300 (not counting Social Security)
•You provided more than half of their financial support. More info
When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them.
Related Information:
•Does a dependent have to live with me?
•What does "financially support another person" mean?
•Can I claim a newborn baby?
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
