My son (22) is a member manager of an LLC which he started in 2016. Can we still claim him as a dependent? He will file a 1040 with schedule C to cover for the LLC.

Forum|Forum|7 years ago
June 1, 2019
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He is a filmmaker. The LLC was started to track income and expenses for a short film that was made last year.

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Yes, if he qualifies as a dependent you can claim him and then he can file his own return with the 'Self-Employed Edition' to report the business income and expenses on his personal return.

When you file his return, he'll need to tell the software that he's claimed as a dependent on someone's return. The software asks about this under the 'Personal Info' tab. He'll still get the Standard Deduction for single filers of $6,300, but he won't get his personal exemption of $4,050 because you're taking it.

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Yes, if he qualifies as a dependent you can claim him and then he can file his own return with the 'Self-Employed Edition' to report the business income and expenses on his personal return.