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Adult child's individual tax return

Hello,

 

I have an adult child (19) and he is in college. I have been claiming him as a dependent on my tax return (married filing jointly using Turbotax Home & Biz). This year starting in summer, he is starting part time work (W2) and might continue this work over fall and winter too. However, that earnings will not be enough for him to on his own (i.e. still dependent on me).

 

At what point in time, he has to file his own taxes and I stop claiming him as a dependent on my tax return?

 

Also, can he contribute max to his Roth IRA even if his income is less (e.g. his earnings in 2021 is $5000, can he still contribute $6000 to his Roth IRA)?

 

2 Best answer

Accepted Solutions

Adult child's individual tax return

You can continue to claim him as long as he is a full time student under age 24 and he doesn’t provide more than half of his support.   He must file his own return to get back any tax withheld or if he has a filing requirement.  He can only contribute to his IRA up to but not more than his earned income. 

This is guidance for a dependent’s  filing requirement. 
https://www.irs.gov/publications/p929#en_US_2020_publink100066042

 

View solution in original post

Vanessa A
Employee Tax Expert

Adult child's individual tax return

No, you would enter the 1098-T on your return not his, unless his scholarship income in box 5 is more than his tuition and fees in box 1, then he would enter the 1098T on his return as well as the excess scholarship income would be taxable to him, but not to you. 

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View solution in original post

3 Replies

Adult child's individual tax return

You can continue to claim him as long as he is a full time student under age 24 and he doesn’t provide more than half of his support.   He must file his own return to get back any tax withheld or if he has a filing requirement.  He can only contribute to his IRA up to but not more than his earned income. 

This is guidance for a dependent’s  filing requirement. 
https://www.irs.gov/publications/p929#en_US_2020_publink100066042

 

Adult child's individual tax return

Thank you so much. In this case, does his 1098T also reported in his tax returns though the parent pays for it?

 

Vanessa A
Employee Tax Expert

Adult child's individual tax return

No, you would enter the 1098-T on your return not his, unless his scholarship income in box 5 is more than his tuition and fees in box 1, then he would enter the 1098T on his return as well as the excess scholarship income would be taxable to him, but not to you. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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