I am filing back taxes from 2018 and 2019 and I would like to know what are the qualifications for the Earned Income Tax Credit. Also, if you file your own taxes and support over 50% of your expenses, can your parents claim you as a dependent and how will it affect you and your parents tax returns?
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You can google IRS.gov and reference EIC for those years. First, let's look at dependency, since it all hinges on whether or not you are a dependent.
There are two types of dependency, which are listed below. When you say that you paid over 50% for your expenses, have you sat down and listed everything that contributed to that support? the IRS provides worksheets. It includes everything you spent and everything your parents spent.
Filing your own return has nothing to do with it. You must know your status before you can correctly file your return.
To meet this test, the child can't have provided more than half of his or her own support for the year.
Qualifying child
In addition to the qualifications above, to claim an exemption for your child, you must be able to answer "yes" to all of the following questions.
Qualifying relative
Here is a checklist for determining whether a relative qualifies.
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