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tax question on college student deduction?
My son is in college full time and I support him about 50%. He works and pays about half so it could go either way. Would he benefit if I dropped him from my tax return this year? Is there a real benefit for him to file his own return?
2 Antworten
- vor 1 JahrzehntBeste Antwort
Every situation is different, but if you both agree to add him to your taxes and you are married filing jointly, it would be more beneficial to you to have him as a large deduction and or credit than for him to file as a head of household and have a much smaller refund or possibly even tax liability. Either way, if he had enough income to support himself by almost 50% he will need to file.
- troLv 7vor 1 Jahrzehnt
of course it would probably benefit your son to be able to claim his own exemption, however, if he didn't make more than $5700(his standard deduction) he won't have any tax any way
he files his own return if he gets a W-2 with the limitations to his personal exemption if you claim him
and support is considered lodging(and being away temporarily at school is still considered living in the home), utilities, phone, insurance, repairs, food, clothing, transportation and entertainment
what does the son pay for himself, if other than these listed he is not supporting himself 50%
