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Should I claim my son as a dependent and impact on his taxes?
My 19 yr old son started working last year (2023) but still lives at home and I believe I still pay for more than half of his living expenses. I started to claim him as an dependent on my taxes as I've always done (but I haven't filed yet). Before I do file, how does that impact his taxes? I don't necessarily want to negatively impact his potential return. Thoughts / Suggestions on what I should from experts or other parents that have been thru this? This scenario will probably exist for me for a few / many years while he lives at home and while my younger son get to be that age too.
Thank you,
Rob S.
March 17, 2024
10:40 AM