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Is being claimed as a dependent worth it?

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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1 Best answer

Accepted Solutions
Hal_Al
Level 15

Is being claimed as a dependent worth it?

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 dependentdepending on her income. 

 

*$1500 more tuition credit + $500 ODC +$900 for the larger HoH standard deduction + possible tax bracket savings.

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2 Replies

Is being claimed as a dependent worth it?

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

  • They don't have to be related to you (despite the name).
  • They aren't claimed as a dependent by someone else.
  • They're a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.
  • They aren’t filing a joint return with their spouse.
  • They lived with you the entire year (exceptions apply).
  • They made less than $5050 in 2024 (not counting Social Security)
  • You provided more than half of their financial support.

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:

 

**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.**
Hal_Al
Level 15

Is being claimed as a dependent worth it?

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 dependentdepending on her income. 

 

*$1500 more tuition credit + $500 ODC +$900 for the larger HoH standard deduction + possible tax bracket savings.

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