we have a dependent grad school child who pays nothing. she is 100% dependent lives at home. .We have been claiming her for education out of pocket expenses and $500 child credit.
Is it worth for us to claim her or for her to file independent?
Im asking because all of a sudden I saw our mortgage interest property taxes and whatever else turbo showed us that the standard deduction is better then itemizing.
so what's the point of itemizing and it made me rethink education expense.
Does college education expense and child credit fall under that category when it figures the standard or itemize?
Does college education fall under itemize deductions and compare standard deduction?
