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RajMud
New Member

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. I was a half year student and I am under age of 24

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. I was a half year student and I am under age of 24

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VictoriaD75
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. I was a half year student and I am under age of 24

Stating yes means you are providing more than half of your own support, which may affect the amount of standard deduction allowed. If you are already receiving the maximum standard deduction your return for a single taxpayer in 2024 of $14,600, this will not have an affect on your return. 

 

Additionally, if you indicate that you are providing more than half of your support, it may affect other taxpayer's ability to claim you on their return. You will want to verify with your parents whether or not they indicated that they provide more than half of your support and whether or not you were claimed on their taxes. If you are claimed as a dependent on another taxpayer's return, you are not eligible to claim education credits. 

 

Total support items include:

  • food, clothing, shelter, education, medical and dental care, recreation, and transportation; and
  • welfare, food stamps, and housing provided by the state.

@RajMud 

 

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