To clarify, me (the parent), received the AOC for the past 3 years. A few more questions:
1. What is the math to arrive at the $7,100?
2. Assuming the parent takes the $7,100, does this mean my son will have taxable income of $7,100?
3. If my son files a tax return and the $7,100 is his only income, does he end up owing? Is there a threshold where he wouldn't owe and maybe that is the figure the parent should use instead of $7,100?
4. If my son does NOT owe any taxes, is he required to file anyway?
Thank you!
