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RD
RD, Certified Public Accountant (CPA)
Category: Tax
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my son is 21 and is in college full time. he made over 5000

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my son is 21 and is in college full time. he made over 5000 and also got a student loan for 700 from Sally mae. He also received grants. I claimed him as a dependant last year but now Im reading all this stuff and not sure if I did the right thing. He doesnt pay for room and board or anything like that. Can I still put him on even if he made over 5000 is my question. Thanks
Sheree
Submitted: 4 years ago.
Category: Tax
Expert:  RD replied 4 years ago.

Is he a full time student? If yes, than you can claim him as your dependent.

 

 

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.
Customer: replied 4 years ago.

I read that just because he lives here that doesnt consitute support. I thought if he made over 3650 I couldnt have him as a dependant. Yes he is a full time student. If he made almost as much as me I could still do it? Just asking . I dont expect that to happen

Customer: replied 4 years ago.
one more thing too he has 1098t forms . Does he put them on HIS taxes or do I out them on mine.. Last year I think he did it on his along with his w-2 earnings. I dont use his w-2s right? Thanks so much for answering me because I have been sitting here with all this paperwork baffled for many hours
Expert:  RD replied 4 years ago.

Income test of $3650 applies if you claim him as your qualifying relative. Since you are claiming him as your qualifying child- as long as he is under age 24 and full time student- you can claim him as your dependent provided he does not provide for more than 50% of his own support.

 

He will file his own tax return reporting his W-2 income and marking on his return that he has been claimed dependent on someone else's tax return. You will not include these on your tax return.

 

You can claim education credit for qualified education expenses paid and reported on Form 1098t.

 

 

 

Customer: replied 4 years ago.
I guess the question is then what is considered support? Is it just that he pays nothing to live here or eat here? is that all it entails? I help him out in other ways too for example I just bought his glasses and contacts, I help him with gas for car , things like that. does that kind of thing qualify
Expert:  RD replied 4 years ago.

The point here is not if you provide for more than 50% of his support but whether he provides for more than 50% of his own support.

Yes, that can be part of the support provided.

 

You can find more information on support test at the link below

http://www.irs.gov/publications/p501/ar02.html#en_US_publink1000220939

 

 

RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience: CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
RD and 10 other Tax Specialists are ready to help you
Customer: replied 4 years ago.

Thanks for your help, I think I did the taxes right. I figured out that he didnt pay more than half of his support.. Took me some time to figure out everything. I made it harder than it actually was lol. Thanks

Expert:  RD replied 4 years ago.
Thanks for using Justanswer.!
Customer: replied 4 years ago.
I have one more question. I filed his 1098t statement on my taxes. I just assumed that this way the grants were already taken care of and when i did my sons taxes I didnt put those grants on his. Was I supposed to put the money that he got for grants on his taxes?
Expert:  RD replied 4 years ago.
I guess you posted this as a separate question. I replied to that post.

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