I have been claiming my son as a dependent on my tax return. Based on a lot of unearned income this year, it may be more beneficial to NOT claim him as a dependent this year and let him file his own taxes.
If he is 'independent' this year, can I claim him again next year as a dependent?
You can't forgo claiming a dependent so he gets a tax break. While you can omit him from your return, he must say that he can be claimed.
There is a common idea that a parent can decide not to claim a dependent so that they can reap certain benefits. The truth is, a qualifying child or a qualifying relative is your dependent.
While the IRS never comes out and says that you must claim a dependent, they do give the definition of who is a dependent.
The term “dependent” means:
While you can choose not to claim your dependent, the qualifying person MUST indicate on his own return that he is a dependent, but that no one will actually claim him as such.
In TurboTax Online, the questions read:
Someone else can claim me as a dependent on their tax return. You would answer yes.
And this person will claim me on their 2021 tax return. You would answer no.