I'm 29 and live with my mother full time.
I graduated from college last year and they just sent my 1098-T.
I put it into my Turbo tax just to see if I would get a refund or credit with it (I have no income, not disabled)
It says I would get a $1,000 Refund.
Problem is, my mother wants to claim me as a dependent and thinks claiming me will help her in some way because she owes every year.
I haven't found much info regarding this and wanted an opinion.
Can she even claim me being as though I'm 29 and would it help her at all?
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Q. Is being claimed as a dependent worth it?
A. Yes. Very much so.
Your mother will get the same $1000 Tuition credit that you get. Depending on how much income she has, she will get up to another $1500 tuition credit, that you are not eligible for. This is in addition to the $500 other dependent credit (ODC) she gets and the smaller tax bill for being able to file as Head of Household (HoH). She cannot be HoH without a dependent. So, the family comes out about $2900+/- ahead* if she does claim you as a dependent, depending on her income.
*$1500 more tuition credit + $500 ODC +$900 for the larger HoH standard deduction + possible tax bracket savings.
If you have no income and live with your mother---it sounds like she is paying for over half of your support. Since you had less than $5050 of income in 2024, she could claim you as a qualifying relative for the $500 credit for other dependents---which would reduce the tax she owes. She could also use Head of Household filing status ---- which helps her a lot since less of her income would be taxable.
Qualifying relative
When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them. There may be other tax benefits you can get when you claim a dependent.
Related Information:
Q. Is being claimed as a dependent worth it?
A. Yes. Very much so.
Your mother will get the same $1000 Tuition credit that you get. Depending on how much income she has, she will get up to another $1500 tuition credit, that you are not eligible for. This is in addition to the $500 other dependent credit (ODC) she gets and the smaller tax bill for being able to file as Head of Household (HoH). She cannot be HoH without a dependent. So, the family comes out about $2900+/- ahead* if she does claim you as a dependent, depending on her income.
*$1500 more tuition credit + $500 ODC +$900 for the larger HoH standard deduction + possible tax bracket savings.
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