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Get your taxes done using TurboTax
Read the last paragraph of my previous post. It posted accidentally before I got that last paragraph in.
Basically, being a dependent has no bearing in any way, shape, form or fashion. On starting and owning a business. It's totally and completely irrelevant and just flat out does not matter at all.
Heck, a 16-year old can have their own grass cutting business as a dependent, and their dependency status just flat out does not matter. If he meets the filing requirements, he's required to file a tax return regardless.
For a corporation, be it an S-Corp or a C_Corp, the corporate return is still required unless specific and explicit conditions are met. One's dependency status is not one of those conditions.
‎November 9, 2020
7:25 AM
1,633 Views