Will it affect my taxes drastically if I don't claim my 19 year old son on taxes this year so he can get his own health insurance ?

[xmasbaby0]

We do not know, since you have not said whether he is a full-time student.  If he is a full-time student you can still claim him as a dependent and possibly get earned income credit, education credits, and the $500 credit for other dependents.

If he is 19 or older at the end of 2019 and is not a full-time student, you cannot claim him as a dependent anyway, unless you pay for over half his support and he had less than $4200 of income in 2019.

[xmasbaby0]

WHO CAN I CLAIM AS A DEPENDENT?

You can claim a child, relative, friend, fiance (etc.) as a dependent on your 2018 taxes as long as they meet the following requirements:

Qualifying child

• They are related to you.

• They cannot be claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or   Mexican resident.

• They are not filing a joint return with their spouse.

• They are under the age of 19 (or 24 for full-time students).

• No age limit for permanently and totally disabled children

  •      They live with you for more than half the year (exceptions apply).

Qualifying relative

• They don't have to be related to you (despite the name).

• They cannot be claimed as a dependent by someone else.

• They are a U.S. citizen, resident alien, national, or a Canadian or Mexican resident.

• They are not filing a joint return with their spouse.

• They lived with you the entire year.

• They made less than $4,150 in 2018  ($4200 for 2019)

• You provided more than half of their financial support. More info

When you add someone as a dependent, we'll ask a series of questions to make sure you can claim them.

Related Information:

• Does a dependent have to live with me?

• What does "financially support another person" mean?

• Can I claim a newborn baby?