Is the fact that my parents claim me as a dependent making me OWE more??

[zapinskian]

Every year my parents claim me as a dependent, I owe an insane amount in taxes. This year, I made less than 20,000 - always claiming just 1. I am 23 and graduated from college in August. Turbotax says I owe $624. Last year I owed $360. 

Is the fact that they claim me making me owe more? I feel like I am paying way more in taxes when all my co-workers are getting money back?

Help! 

[maglib]

this will be the last year they can claim you as you will no longer be under the age of 24 and a full time student for 5 months.

[JulieH1]

Yes, if your parents are claiming you then you lose a valuable personal deduction.

View the rules for claiming a child to see if they can claim you:

In general, to be a taxpayer’s qualifying child, a person must satisfy four tests:

• Relationship — the taxpayer’s child or stepchild (whether by blood or adoption), foster child, sibling or stepsibling, or a descendant of one of these.
• Residence — has the same principal residence as the taxpayer for more than half the tax year. Exceptions apply, in certain cases, for children of divorced or separated parents, kidnapped children, temporary absences, and for children who were born or died during the year.
• Age — must be under the age of 19 at the end of the tax year, or under the age of 24 if a full-time student for at least five months of the year, or be permanently and totally disabled at any time during the year.
• Support — did not provide more than one-half of his/her own support for the year.