Are you an undergraduate college student? I ask, because more than likely your homestead is your parent's house, where ever that may be.
If, in 2020 you were:
- Under the age of 23 on Dec 31 of the tax year, and;
- Enrolled as a full time student for "any" "one" semester that started in the tax year, and
- Enrolled at an accredited institution, and;
- Enrolled in a course of student that will lead to a degree *or* credentialed certification, and
-you did not provide more than half of your own support for the entire tax year (see below for support), then:
Your parents qualify to claim you as a dependent on their tax return. Therefore your "home" is your parent's house.
Support:
There are only two possible ways an undergraduate student can provide more than half of their own support. Understand that scholarships, grants, 529 distributions, gifts from Aunt Mary, money from mom and dad, and any other third party support received by the student from any source *does* *not* *count* for the student providing their own support. The student can only claim to have provided their own support if:
1) The student was self-employed or had a W-2 job and earned enough money to justify their claim to providing their own support. The earned income received in the tax year also has to be more than the total of all scholarships, grants, 529 distributions and all other 3rd party support received by the student during the same tax year.
2) The student is the *primary* borrower on a *qualified* student loan, and sufficient funds were distributed to the student during the tax year from that loan, to justify a claim to providing more than half of their own support. Additionally, the monies distributed to the student during the tax year must be more than the total of all scholarships, grants, 529 distributions and all other 3rd party income recieved by the student during the same tax year.
