Sorry to bother! I am curious about how claiming a student as dependent rather than independent will affect how much tax is due for parents and the student?
would it save more on taxes if the student is filed as dependent versus as independent?
My student is 18 years old and has unemployment up to around 31,000.
may you look at my question below:
Sorry to bother, but I am confused on how to file an 18 year old who has received unemployment up to around 30,000. I see some people say that a person is considered dependent no matter what the income is. However, based on your reply, it seems that a person can not be filed as dependent if they have too much unearned income from unemployment benefits.
How should I filed an 18 year old under their married jointly parents? Would it be better to file them as independent or dependent?
Which would save more?
Taking into account possible EIC, EITC, American Opportunity Credits, tax deductions, tax exemptions, and other possible credits or benefits?
Their parents’ income is around AGI is around 41200.
Also would using the look back provision be better to help the unemployment money from causing ineligibility for tax benefits?
sorry for so many questions. I am really confused on how to help get the least tax due
