Education

@KathrynG3 

 

Thanks for the clarification. Very helpful. I'd imagine 529 plan owner (typically parents) is the clearest indicator this is not child's $ to meet their financial support. But some CPAs seem to want to interpret otherwise to gain educational credit and Covid stimulus.

 

I have a further question just to clarify all the details. Even if a college student have significant earning (Say a high paying summer internship) but the earning is not put towards their financial support (say they just put it in a bank or investment account), then they are still > 50% support from someone else that can claim them as a dependent. Correct?