Sorry to bother, but I am confused on how to file an 18 year old who has received unemployment up to around 31,600. I see some people say that a person is considered dependent no matter what the income is. However, I’ve seen some other posts say that a person can not be filed as dependent if they have too much unearned income from unemployment benefits.
How should I file 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 $41,200.
Also would using the look back provision be better to help the unemployment money from causing ineligibility for tax benefits?
2019’s income is slightly higher.
Would the look back rule apply in this case?
Someone said that filing an 18 Y.O as independent would allow for paying less tax but I am not sure if they took into account possible tax credits / deductions / exemptions / other benefits.
Is it really better to file our 18 y.o as an independent ? Wouldn’t filing them as a dependent save more on taxes?
I’m really confused because I am not sure how the unemployment benefit income will affect the parents’ taxes and eligibility for tax savings rules.
sorry for so many questions. I am really confused on how to help get the least tax due
@tax Dependant duaghter receives unemployment 18 year old claiming herself unemployment income How to file a Tax Return for a Dependent College Student Child living with us and received Unemploym...
