I'm sorry that I wasn't more clear. Her income this year is about $7000. HIM is based on what she expects to make in 2023 (20K), and also depends on whether we will claim her as a dependent. That's what led to my question about the tax impact of not claiming her (assuming we could).
Thank you . . . this helps. I wanted to make sure that losing the Child Tax Credit was likely to be the only thing to consider. So, assuming everything else is the same as last year, we will just have a tax burden that is about $2,000 higher, correct?
That's definitely better than a 10K hit on health insurance marketplace coverage.
Will not being claimed make any difference on her taxes this year (she filed her own last year as a dependent)?
