Q. Does he have to file his taxes separately, as his income is more than $10K for 2024?
A. Not exactly. First, the filing requirement for 2024 is $14,600, if his income is from working ("earned income"). Second, a person who has to file a tax return can still be a dependent. There is no income limit for a full time student under age 24, to be a dependent.
Q. So should i claim on my taxes, but it seems there is no tax benefit?
A. You should claim the student as your dependent. Since the student is your dependent, you can claim the $500 Dependent credit and the Tuition credit which is worth up to $2500 to you, but worth nothing to him on his return.
