Q. Am I eligible to claim independent/receive stimulus payments?
A. No. Since you CAN be claimed as a dependent, you may not receive the stimulus/rebate credit, even if your parent's don't actually claim you.
You can be a dependent because your parent's provide more than half your support. Since they are the owner of the 529 plan, that support is considered as coming from them*.
Q. Am I eligible to claim independent and receive AOTC?
A. No, for basically the same reason but also a 2nd reason . Full time, unmarried, students, under 24 must support themselves with earned income, to be eligible for the refundable portion of the credit (the $1000).
There are two types of dependents, "Qualifying Children"(QC) and standard ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test.
The support test is different for each type. The support test, for a QC, is only that the child didn't provide more than half his own support. The support test for a Qualifying Relative (QR) is that the taxpayer provided more than half the relative's support.
You can no longer be a QC because you do not live with your parents**. So, now there is a $4300 income test for you to be a Qualifying relative dependent. If you made more than that at your part time job, you cannot be a QR dependent. Any other income?
*The treatment of expenses paid with distributions from Sec. 529 plans and Coverdell ESAs in the support test is uncertain because of the dual nature of these college savings vehicles and a lack of IRS guidance. The consensus among tax experts is that it is parental support, because the parent is the owner of the plan. It would be helpful, to your case, to make distributions to the beneficiary, not the owner.
More info: https://ttlc.intuit.com/questions/3402602-can-i-claim-money-from-a-529-fund-as-my-supporting-my-22-y...
**If your apartment is in the college town and your main purpose of being there is to attend college, your being there could be considered only a temporary absence from your parent's home. In that case, you are still considered residing with them for purposes of the QC residence test.
