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I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

 
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I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

If your daughter is a full-time student under age 24 in 2019 then you can claim her as your dependent--you will get the $500 credit for other dependents --- and you can enter the education credits on your own tax return.


WHO CAN I CLAIM AS A DEPENDENT?

You can claim a child, relative, friend, fiance (etc.) as a dependent on your 2018 taxes as long as they meet the following requirements:

Qualifying child

• They are related to you.

• They aren't claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They aren’t filing a joint return with their spouse.

• They are under the age of 19 (or 24 for full-time students).

? No age limit for permanently and totally disabled children.

• They live with you for more than half the year (exceptions apply).

Qualifying relative

• They don't have to be related to you (despite the name).

• They aren't claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They aren’t filing a joint return with their spouse.

They lived with you the entire year.

• They made less than $4,150 in 2018

• You provided more than half of their financial support. More info

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them.


**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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5 Replies

I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

How old is she and how much income of her own do you expect her to have in 2019?
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

Will be 21, full time grad student and no other income.

I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

If your daughter is a full-time student under age 24 in 2019 then you can claim her as your dependent--you will get the $500 credit for other dependents --- and you can enter the education credits on your own tax return.


WHO CAN I CLAIM AS A DEPENDENT?

You can claim a child, relative, friend, fiance (etc.) as a dependent on your 2018 taxes as long as they meet the following requirements:

Qualifying child

• They are related to you.

• They aren't claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They aren’t filing a joint return with their spouse.

• They are under the age of 19 (or 24 for full-time students).

? No age limit for permanently and totally disabled children.

• They live with you for more than half the year (exceptions apply).

Qualifying relative

• They don't have to be related to you (despite the name).

• They aren't claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They aren’t filing a joint return with their spouse.

They lived with you the entire year.

• They made less than $4,150 in 2018

• You provided more than half of their financial support. More info

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them.


**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

Thank you.  I guess my concern was since the loan was her ‘support’ to live for the year whether that trumped the fact that I will pay her more than half of that back over the year thus paying more than 50% of her support.

I am preparing for NEXT year and looking at my current taxes. My child borrows 42,000 for Doctorate but over the year I pay her 24,000 to help out. Can I claim her?

A loan is not considered to be income since it has to be paid back.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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