I know not claiming my daughter in college can reduce her kiddie taxes by using educational credits, as somebody has already asked and answered this question.
However, when claimed as a dependent on my return, she can stop me from receiving earned income credit (EIC) as she has more than $3500 investment income. I do not want to claim her as my dependent. What is your opinion?
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No, you are never "required" to claim a dependent. You may file the way that you deem most advantageous to you.
However, tax law dictates that if your daughter qualifies as your dependent, even if you don't claim her, she may not claim herself on her return.
No, you are never "required" to claim a dependent. You may file the way that you deem most advantageous to you.
However, tax law dictates that if your daughter qualifies as your dependent, even if you don't claim her, she may not claim herself on her return.
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