Thank you for the quick reply! From what I've read, she meets the criteria to claim herself.
If your college student meets the IRS guidelines, you can claim them as a dependent. Some of the requirements include:
- The student must be related to you by blood, adoption or fostering, under 19 or under 24 if a full-time student (no age limit if permanently and totally disabled)
- They live with you for more than half the year (with exceptions)
- You do not provide more than half of their own financial support.
She does not live with us technically at all now. She stays where she is going to school and travels during the summer. She has $30-40k of her own savings from work she uses for her expenses. She has 1 year left of school and will not get any Chapter 33 payments next year. Technically, she is paying more than 50% of her living expenses and files taxes due to having more than $1100 in interest income. Her tuition is only a little over $4k a year, so it's not hard for her to cover that either. The determining question TurboTax asks and that I find online is the, "Does she pay more than 50% of her living expenses?"
Back to the AOC: Did I figure the $1921 correctly? Was the 529 plan info also correct? Thanks!
