I have a son in college and can claim him but was told that he should file as an independent. His 1098 T Box 1 is 60730 and Box 5 is 86749.
1. What strategy is there for him to be able to claim the AOCT credit?
2. Should/can he file as an independent and is there any benefit for him to do so?
3. Should he file as a dependent?
4. What strategy is there for me to claim him and get the AOCT credit?
Does the tax loophole work here to claim up to 4000 of box 5 as income? Would that mean that he claim 56730 as income?
