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You may claim your son as a dependent as long as you provided for more than half of his total support and as long as he did not have income of his own of more than $3,650 for the year. Assuming that his grants are not taxable, they would not be included in determining the income level of $3,650, and the student loans are not considered income.
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If the grant money was used to pay for tuition and eligible related student fees, then the grant should not be taxable income. If the grant was used for personal expenses, then it would be taxable income.
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