I’m trying to determine if my 24 year old son who is a graduate student is my dependent. His only means of support beyond what I pay for is federal student loans in his name.
The response in TurboTax to ‘Did you support yourself in 2019?’ is "Consider all your living expenses and what you contributed. If you paid for more than half with your earned income, you supported yourself. If you used unearned income or student loans to pay for most of your expenses, you did not support yourself."
However, Publication 501 - Worksheet 2, which determines support says: Enter the total funds belonging to the person you supported, including income received (taxable and nontaxable) and amounts borrowed during the year, plus the amount in savings and other accounts at the beginning of the year.
Based on the Worksheet, it appears as though the student loans do count toward support, and I cannot say that I provided more than half his support...
