My son graduated college in June and I covered his expenses until he found a job in Sept. I covered his tuition and living expenses while in college. From Sept to end of year he made about $20K. Should I claim him as a dependent (he qualifies) or not? Will he save more on taxes if he is not a my dependent than I would save by having him as a dependent?
First, let's check if your son qualifies as your dependent under the Qualifying Child rules:
1. Relationship test: met (he's your son)
2. Age test: met (assuming he's under 24)
3. Residency test: met (he appears to have lived with you more than half the year)
4. Support test: met (you provided more than half of his support for the year, including tuition and living expenses through September)
Based on the information provided, your son appears to qualify as your dependent for 2024. Because he qualifies as a dependent, he cannot "claim himself" on his own tax return - even if you don't claim him.
Since he qualifies as your dependent, you would benefit more by claiming him. You could qualify for up to $500 for Other Dependent Credit and up to $2,500 for education credit if you paid tuition for him in 2024.
First, let's check if your son qualifies as your dependent under the Qualifying Child rules:
1. Relationship test: met (he's your son)
2. Age test: met (assuming he's under 24)
3. Residency test: met (he appears to have lived with you more than half the year)
4. Support test: met (you provided more than half of his support for the year, including tuition and living expenses through September)
Based on the information provided, your son appears to qualify as your dependent for 2024. Because he qualifies as a dependent, he cannot "claim himself" on his own tax return - even if you don't claim him.
Since he qualifies as your dependent, you would benefit more by claiming him. You could qualify for up to $500 for Other Dependent Credit and up to $2,500 for education credit if you paid tuition for him in 2024.