Is it beneficial to me to not have my parents claim me on their taxes anymore. i am 19 and a full time college student. they don't get the child tax credit anymore

[xmasbaby0]

It is not a "choice".   If you CAN be claimed as a dependent then you are required to say on your own tax return that you can be claimed.  In most situations, a full-time college student under the age of 24 can still be claimed as a qualified child dependent on the parents' tax return.  The person who claims the dependent gets the education credits.  You can file your own tax return in order to seek a refund of tax withheld from your paychecks but in My Info you have to say that you can be claimed as someone else's dependent.

Your parents still get the $500 credit for other dependents, education credit, and can claim any of your medical expenses that they paid for.

CAN I FILE A RETURN IF I AM A DEPENDENT?

If you can be claimed as a dependent on your parents’ return, you can still file your own return so that you can receive a refund of taxes withheld.  (You will not get back anything for Social Security or Medicare withheld.) Be sure that on your own return you say that you can be claimed as a dependent on someone else’s return.

https://ttlc.intuit.com/community/children-dependents/help/do-i-need-to-file-my-own-taxes-if-i-m-a-d...

If you can be claimed as a dependent and you answer the question in My Info incorrectly, here is what happens if you e-file first:  Your Social Security number goes into the IRS system as having been used.  When your parents try to e-file, their e-file is rejected and they will find it impossible to e-file their own tax return.  Then they will have to print, sign and mail their return and wait for months for it to be processed.  You, meanwhile, will have to file an amended tax return on a special form called a 1040X, which also takes months for the IRS to process.  So make sure you know the correct answer to "Can anyone claim you as a dependent on their tax return?"

Read this from a parent's perspective:

WHO CAN I CLAIM AS A DEPENDENT?

You can claim a child, relative, friend, or fiancé (etc.) as a dependent on your 2022 taxes as long as they meet the following requirements:

Qualifying child

• They're related to you.
• 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're under the age of 19 (or 24 for full-time students).
• No age limit for permanently and totally disabled children.
• They lived with you for more than half the year (exceptions apply).
• They didn't provide more than half of their own support for the year.

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 $4,400 in 2022.
• 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.

[DavidD66]

The issue is not whether it is beneficial to your parent's to claim you as a dependent, but whether or not you qualify as their dependent.  When you fill out your tax return, you have to indicate is someone CAN claim you as a dependent, not whether they did or will claim you.  If your parent's do claim you, they may be eligible for the $500 Credit for Other Dependents.  For more information on this credit, click on the following link:

What is the $500 Credit for Other Dependents (“Family Tax Credit”)?

[Hal_Al]

Q. Is it beneficial to me to not have my parents claim me on their taxes anymore?

A. No.  With the tax law change, effective 2018, most dependents will get the same refund whether they claim themselves or not. The personal exemption has been eliminated and the standard deduction increased.  But, your parents will lose, at least,  the $500 dependent credit and possibly more.

But, as others, have said, it's not optional. There is a rule that says IF somebody else CAN claim him as a dependent, he is not allowed to claim himself. If he has sufficient income (usually more than $12,550), he can & should still file taxes. In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.  TT will check that box on form 1040.

Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

https://ttlc.intuit.com/community/dependents/help/when-do-i-have-to-answer-yes-to-being-claimed-as-a...

[phillyfan11]

My 22 year old son is college senior. He got decent income by doing internships etc. However I paid his tuition and living expenses.  I need advice whether I can still claim him as dependent in my tax forms.

Last year when he filed taxes -  Can a parent (or somebody else) claim you as a dependent on their tax return? ....'No' was selected and I did not claim him as dependent. 

But I feel it was a mistake and I should claim him as dependent. And from tax benefit purpose this should be better option too. please advise

https://turbotax.intuit.com/tax-tips/family/rules-for-claiming-a-dependent-on-your-tax-return/L8LODb...

[KrisD15]

You don't say what the income is that the student earned, but USUALLY the parent claims a college student. 

The student would need to have supplied more than half his own support, and unless the student had savings set aside, that is usually impossible to do while attending school. 

HERE is a link to an IRS support worksheet that might help. 

Students usually don't MOVE to the place they attend school, so if you still have a room for him to come home to, count that as supplied by you. 

Any kind kind of financial aid the student gets, such as a scholarship, does NOT count as the student suppling his own support. 

The IRS has education credits to help families dealing with the cost of college, so if you can take advantage of them, you should. 

[Hal_Al]

Q. But I feel it was a mistake and I should claim him as dependent. And from tax benefit purpose this should be better option too. please advise

A. Yes, that was most likely a mistake and you should file an amended return.  You get the (up tp) $500 other dependent credit and the (up tp) $2500 education credit.

As others have said, for dependency, it does not matter how much money a full time student, under 24 makes.

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:

1. He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
2. He did not provide more than 1/2 his own support. Scholarships are excluded from the support calculation
3. He lived with the parent (including temporary absences such as away at school) for more than half the year

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

Furthermore, there is a rule that says IF somebody else CAN claim him as a dependent, he is not allowed to claim himself. If he has sufficient income (usually more than $12,950), he can & should still file taxes. In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.  TT will check that box on form 1040.

Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

https://ttlc.intuit.com/community/dependents/help/when-do-i-have-to-answer-yes-to-being-claimed-as-a...

With the tax law change, effective 2018, most students will get the same refund whether they claim themselves or not. The personal exemption has been eliminated and the standard deduction increased. However, you only qualify for an education credit or deduction, if you are not a dependent.

Furthermore, most students are not eligible for the refundable portion of the education credit. It is usually better if the parent claims it. 

[Bigguy2]

I can be claimed as a dependent on my parents' returns but they will not do so because there is no tax benefit for them. I've unearned income that is close to the standard deduction for single ($13,850 for 2023), so I want to claim the full standard deduction for myself. But if I check the boxes on TT (can be claimed as someone's dependent but that person didn't actually claim me as a dependent), TT only gives me a small standard deduction (<$1,200). How can this be fixed on TT? It doesn't sound right that I'm forced to take a much smaller standard deduction while my parents got no tax benefit in claiming me as a dependent on their returns (& as I said, they don't claim me as a dependent on their returns). BTW, the unearned income is all from my own resources. Thanks 

[Hal_Al]

TurboTax is doing it right.  The standard deduction for a person, who CAN be claimed as a dependent, is  $1,250 or your earned income plus $400, whichever is greater (but not more than $13,850).

So, it's possible for dependents with earned income to get the full $13,850 standard deduction. Those with only unearned income only get a $1250 standard deduction.  As noted in previous comments, on this thread, you get the same standard deduction whether your parents actually claim you or not.  It's the fact that you qualify as a dependent that restricts your standard deduction, not whether you are actually claimed as a dependent.

[Bigguy2]

Thanks for answering my question.

[NCperson]

@Bigguy2 parents always have the optio to claim their children.  It is there choice (the IRS doesn't case because in some cases it means parents pay higher taxes or don't get the benefit of certain tax credits, so the IRS likes those situations!)

but from the child's perspective, the question on the tax return is CAN someone else claim you, not whether they actually do claim you.   So you have to check that box, since your parents CAN claim you, even though they choose not to. 

See the difference?

[Jhayes0818]

I crunch the numbers both ways and see where the largest refund is. 

[DianeW777]

It depends.  This is not an optional decision.  Only one of you qualifies, meaning you will either be independent or your parents are entitled to claim you as a dependent but it's not a choice you can make.  It depends completely on the tax law.

• If you did not provide more than half of your own support, including your college costs then only your parents can claim you as a dependent.  If this is the case, then on your return you would indicate someone else is claiming you.
• Rules for claiming a dependent
• Qualifying Child Rules

@Jhayes0818 

[Hal_Al]

Q. Can I crunch the numbers both ways and  go with where the largest refund is?

A. No. As others, have said, it's not optional. There is a rule that says IF somebody else CAN claim him as a dependent, he is not allowed to claim himself. If he has sufficient income (usually more than $13,850), he can & should still file taxes. In TurboTax, he indicates that somebody else can claim him as a dependent, at the personal information section.  TT will check that box on form 1040.

Even if he had less, he is allowed to file if he needs to get back income tax withholding. He cannot get back social security or Medicare tax withholding.

https://ttlc.intuit.com/community/dependents/help/when-do-i-have-to-answer-yes-to-being-claimed-as-a...

[Pawan 22]

My parients is dead pls give me some claim