Should my parents claim me as a dependent? I was dependent for the first half of 2020. Will this affect my return? Or just benefit theirs?

[macuser_22]

There is not such thing as a "half" dependent.    Either you are a dependent under one of the two types of dependents or not.

---Tests To Be a Qualifying Child---
(Must pass ALL of these tests)

NOTE: If a child passes all of these tests he must say “yes” on his/her own tax return (if he/she files one) that another taxpayer CAN claim him/her as a dependent even if they DO NOT claim him/her)

1. The child must be your son, daughter, stepchild, foster child, brother, sister, half brother, half sister, stepbrother,stepsister, or a descendant of any of them.

2. The child must be (a) under age 19 at the end of 2020, (b) under age 24 at the end of 2020 and a full-time student* for any part of 5 months of 2020, or (c) any age if permanently and totally disabled and must be younger than you (or your spouse if filing jointly).

3. The child must have lived with you for more than half of the year (There are exceptions for temporary absences such as school, illness, business, vacation, military service).

4. The child must not have provided more than half of his or her own support for the year.
See Worksheet 3-1. Worksheet for Determining Support
https://www.irs.gov/publications/p17#en_US_2020_publink1000171012

5. If the child meets the rules to be a qualifying child of more than one person, you must be the person entitled to claim the child as a qualifying child.

6. The child is not filing a joint return.

7. The child must be a U.S. citizen, U.S. resident alien, U.S. national, or a resident of Canada or Mexico

*A full-time student is a student who is enrolled for the number of hours or courses the school considers to be full-time attendance during some part of each of any 5 calendar months of the year.

See IRS Publication 17 for more information.

https://www.irs.gov/publications/p17

=====

---Tests to be a Qualifying Relative (& Unrelated Persons)---
(Must meet ALL of these tests to be a dependent)

1. The person cannot be your qualifying child or the qualifying child of any other taxpayer.

2. The person either must be related to you, or must live with you all year (all 365 days - There are exceptions for temporary absences such as school, illness, business, vacation, military service) as a member of your household.

3. The person's gross income for the year must be less than $4,300 (tax-exempt income, such as certain social security benefits, is not included in gross income)

4. You must provide more than half of the person's total support** for the year.

5. The person is not filing a joint return.

In any case, the person must be a U.S. citizen, U.S. resident alien, U.S. national, or a resident of Canada or Mexico

The above is simplified; see IRS Publication 501 for full information.
https://www.irs.gov/pub/irs-pdf/p501.pdf

** Pub 501 Worksheet 2 for determining support
https://www.irs.gov/publications/p501#en_US_2020_publink1000292527

[mister_bill]

Also, it will affect both of your tax returns. If your parents claim you as a dependent, they will get a tax deduction for you on their return, and pay less on their taxes. And you will not be able to deduct yourself and will pay more.

Based on the earlier response, I guess that you need to count days and decide who gets the deduction. Just make sure that you don't take the deduction, or you will both hear from the IRS.

[ColeenD3]

It will probably come down to age, whether or not you are a full time student, and support. If you are age 24 and making over $4,300 for the year, you are not a dependent.