topic Re: 2018 Amended Return in After you file

2018 Amended Return

hollyd1208 — Sat, 04 Jan 2020 20:38:13 GMT

My daughter selected "someone can claim you as a dependent" on her 2018 return as she was a college student and assumed we could claim her. Her AGI was $21,895 and she did take the Standard Dedcution of $12,000 on line 8. We were told we would receive no benefit from claiming her as a dependent on our return as our combined AGI was $252,000 and that she should amend her return. As I look at the Instructions for Form 1040X on page 9 in the table changing exemption information is "NA". Maybe I do not understand the difference between a dependent and an exemption but does she need to file an amendment? Is there any value in doing so? Where on the 1040X form would we make that adjustment? Thank you!

Re: 2018 Amended Return

xmasbaby0 — Sat, 04 Jan 2020 21:08:39 GMT

If your daughter was a full-time college student under the age of 24 at the end of 2018, then she COULD be claimed as a dependent even if you did not claim her, so she filed correctly and does not need to amend.

There were no personal exemptions for 2018 or beyond. New tax laws eliminated personal exemptions.

Re: 2018 Amended Return

xmasbaby0 — Sat, 04 Jan 2020 21:11:40 GMT

Although your income would have kept you from claiming education credits you could amend for the $500 credit for other dependents if you want to.

CREDIT FOR OTHER DEPENDENTS

https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-credit