Hal_Al
Level 15

Education

Simple answer: No. Longer answer: Maybe, but probably not. Yes, the support that comes from student loans is considered as support provided by the student himself EXCEPT if the parent co-signed the loan.

But, you would have to do the math to see if that constitutes half your support*.  That's unlikely, considering tuition is also part of your support. Any scholarships are considered third party support and not support provided by the student.

 

There's a new urban myth among college students that says they can get a $1000 from the government just for filing a tax form. For most of them, they simply aren't eligible. A full time student, under age 24, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You must have actually paid tuition, not had it paid by scholarships & grants.  It is usually best if the parent claims that credit. 

 

*The IRS has a worksheet that can be used to help with the support calculation. See: http://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf The support value of a home is the fair market rental value, divided by the number of occupants.  While away at school, you are considered as living with your parent and their home is part of your support.