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Deductions & credits
One more issue before I crunch the numbers. You said " My Daughter (19 on May 2022) worked for the first 6.5 months to gather some money to help pay for her college. She earned about $16,000. After that, she started full time college."
When did she start college. It makes a big difference whether it was Sept or Aug. (unless she was still in high school earlier in the year).
A child of a taxpayer can still be a “Qualifying Child” (QC) dependent, regardless of his/her income, if:
- He is under age 19 (on 12-31-22), or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
Starting anytime in August, even Aug. 31, meets the 5 month rule. If she started in Sept, she cannot be you dependent, under the qualifying child rules and her income is too high under the qualifying relative rules.
February 11, 2023
6:08 AM