TT has indicated my child is a dependent and I would like to not claim as such so they can claim themself. Is there a way to NOT choose to claim your child as a dependent? For 2024 they fit the dependent criteria as they are a full time student, over the age of 19 but under the age of 24, living at home full time and does not pay 50% or more of their expenses, and has income that is over $5K. For 2023 when I filed my child my child fit all the criteria with the exception of NOT being a full time student (as they were only part time then). They then claimed themself for 2023. For 2024 in TT when I chose my child is a full time student (because they are now), TT in returns makes them a dependent . Though when I went back to just see what it would do when I checked they are not a full time student, TT then does not make them my dependent. So the full time student status is what changes things I believe.
I know it may seem strange as to why I would not want to claim my child and have them claim themself, but I would like to give them the tax benefits and credits if I can on their tax return. So then there poses the question is it better to claim them myself and get more credits and more of a refund where they would get less credits and a refund if they claimed themself? Appreciate any insights.
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If you do not want to claim your child as a dependent, you can just remove them from your return. You can do this by clicking the trashcan next to their name on the personal info screen.
Just so you are aware, if you are talking about the education credits, unless they have TAXABLE income and a tax liability, even if you do not claim them, this will not help them. They are not eligible for the REFUNDABLE portion of the American Opportunity Tax Credit. They would be able to get the NON-REFUNDABLE portion which would lower their tax liability, but this will only help them if they have a tax liability. That means they would have had to make more than $14,600 in wages. If it is not a lot over, it still may not benefit them more to take it than for you to claim them.
You may want to consider before filing either of your taxes to try it both ways and see which way works out the best.
Thank you much. I am in agreement to try it both ways to see which works best.
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