Hi,
My parents contributed to the 529 plan, and they normally claim me on their tax return. There is no question that I do not actually provide half of my own support for the year 2024.
However, I plan to **not** have my parents claim me as a dependent, and will the claim the **non-refundable** AOTC this year (**making sure to indicate that I can - but choose to not - be claimed as a dependent**).
The purpose of filling out this worksheet is to substantiate the claim that my earned income is greater than half of my support (for purposes of the "Kiddie Tax") - which it likely is, but not by a large margin. (My earned income for 2024 should be over 40 k). I would like to ensure that I am calculating the cost of my support correctly, and not double counting expenses like food (e.g. food eaten at home for 1 month a year vs. food purchased while away from home) or housing expenses (e.g. room and board, summer internship rent vs. 1 month of living at home).
