You'll need to sign in or create an account to connect with an expert.
When your child lives away at college, it is considered to be a "temporary absence" so you still say they lived with you the whole year.
WHO CAN I CLAIM AS A DEPENDENT?
You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2024 taxes as long as they meet the following requirements:
Qualifying child
Assuming that "full-time out of state student" only means that your regular live at home child is now "away at school", you enter him/her, in TurboTax, the same as last year. The only addition is you check the full time student box. You say he lived with you all year (being away at school is only a temporary absence, even if he lives off campus).
There are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
So, it doesn't matter how much he earned. What matters is how much he spent on support. Money he put into savings does not count as support he spent on himself.
The support value of the home, provided by the parent, is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants.
The IRS has a worksheet that can be used to help with the support calculation. See: http://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
tom m63
Level 2
danielajf
New Member
jennalva00
New Member
KMM144
Level 2
sekat1911
Level 1