Patrice
addict
Reged: 07/21/06
Posts: 401
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What is the age at which children can no longer be claimed? 18? 21? depends on if in college?
Just starting to get my tax things in order, will be filing single for the first time. Thanks for any info.
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To the world you may be one person, but to one person you may be the world.
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matilda
Pooh-Bah
Reged: 11/11/04
Posts: 2087
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I believe they can't make over $3000 if they are over 18 and in school. If you use Turbo Tax that is one of the questions they ask anyways. You have to be providing financially in order to claim them.
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Gecko
Carpal \'Tunnel
Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun
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What is the age at which children can no longer be claimed? 18? 21? depends on if in college?
---> 19 or less or 24 or less if attending school full-time and their income cannot exceed $3,300.
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If you air your dirty linen in public, expect people to comment on the skid marks!
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Patrice
addict
Reged: 07/21/06
Posts: 401
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Thanks Matilda and Gecko. This may be bad for me. Son did a 6 month co-op related to his college major and definitely made more than $3,000. He did pay his living expenses from it though. He was still enrolled as a student but at the job full time from Jan. to June. Any knowledge of this situation?
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To the world you may be one person, but to one person you may be the world.
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matilda
Pooh-Bah
Reged: 11/11/04
Posts: 2087
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The thing you need to remember is that a person can only be claimed ONCE. Since he has income, he would probably want to claim himself so that he reduces HIS tax bill. If he doesn't claim himself when he files taxes he pays more. I don't even know if the IRS allows him to file and claim zero. If you look at the tax table, there isn't a column for filing and not claiming yourself. If he claims himself, then you can't also claim him. If you claimed him as a dependent as well, then there would be two exemptions for one person. If he doesn't file a return claiming his wages then he risks ramifications from the IRS. Have you talked this over with him yet?
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Avaya
Carpal \'Tunnel
Reged: 02/09/06
Posts: 9816
Loc: Arkansas
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I would consider him a full time student in the scenario you posted and you could be eligible to claim him. He can file his taxes (in fact, he must file) but he doesn't not have to claim himself. There is a box to check stating that he is the dependent of another. This will allow his income to be taxed and for him to - hopefully- receive a refund if he overpaid his taxes.
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Eternity is too long to be wrong.
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sogle57
old hand
Reged: 07/04/04
Posts: 942
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my daughter is 21 will be 22 in march..made over 6,000 and is a full time student..and my ex still got to claim her this year...it will be his last tho as she grads in may...
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Patrice
addict
Reged: 07/21/06
Posts: 401
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I did get info on this from my tax man recently. He said that most likely I would still claim him as a dependent, and he would not claim himself (since I was claiming him). Reasoning is that I have a greater income and would benefit more from the deduction.
He said that in some cases the parent reimburses the child a calculated amount to compensate for this.
Should be much simpler next year--he'll be a traditional student for the year.
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To the world you may be one person, but to one person you may be the world.
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joym525
old hand
Reged: 03/13/07
Posts: 756
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The year the child turns 17 you no longer get the $1000 tax credit. But I agree with all above posts...you should be able to claim the child until he graduates college for the tax benefits if you are paying college expenses.
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