I filed 2019 tax return with my son as a dependent of mine.
I plan to file amend for him. Have him change his status to single (not a dependent) in order to take full advantage of American Opportunity Credit. So he will get additional refund. On the other hand, I should file amend for my return as well because the number of dependents drops and I will owe more tax.
my question is that whether I should file both amends at the same time? What if my son’s amend does not get accepted and then I end up paying extra taxes on my return? This status change will also have impact on our state tax returns. Should I only file my son’s amend to begin with? And then wait and see?
Thanks.
