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Supporting yourself means paying for more than half of your living expenses with earned income. if i say yes what does that mean? what if i say no does it change anything

 
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3 Replies
Carl
Level 15

Supporting yourself means paying for more than half of your living expenses with earned income. if i say yes what does that mean? what if i say no does it change anything

Are you at least a half time student that was under the age of 24 on Dec 31 of the tax year? I ask, so I don't have to write a book of which 90% of it wouldn't apply to or interest you.

Supporting yourself means paying for more than half of your living expenses with earned income. if i say yes what does that mean? what if i say no does it change anything

no sir
HollyP
Employee Tax Expert

Supporting yourself means paying for more than half of your living expenses with earned income. if i say yes what does that mean? what if i say no does it change anything

If you say yes, then you will take the $4,000 personal exemption for yourself. This reduces your taxable income by $4,000, thus lowering your taxes. If you click yes, then nobody else can claim you as their dependent on their tax return this year. See the FAQ below for more info. https://ttlc.intuit.com/replies/3299967

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