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January 18, 2021
Question

25, Graduated in July still should I still file as a student?

  • January 18, 2021
  • 1 reply
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2018 I was claimed dependent and was working just enough to save up money for my graduate program. In 2019 My father claimed me as dependent, and I was a full-time student in my grad program and 24 years old. For this years taxes (2020) it's different because I am 25 years old and graduated with my 1 year program. Would I be filing as a student if I graduated in July 2020? I also don't know how this works since this is my first time. Will they ask questions as how I paid for college? Would my 1098 not be enough? I'm nervous about this process and no one around me knows the answers. I want to make sure I file this correctly. I also want to add that I after graduation I applied for jobs and received an opportunity that was self employed I was paid less than 2500 for maybe a month but was laid off due to closing the business closing that position due to covid. I didn't apply for unemployment benefits because  people around me told me m ineligible, so I have been looking for jobs and it's honestly been really hard cause again I dont really know if I would be filing as a student/self employed or what?

1 reply

Employee
January 18, 2021

For 2020 your parents can claim you only if your earnings were less than $4,300 and they provided more than half of your support.  In that case be sure to check the box saying that someone can claim you. That is true whether they actually claim you or not. If they can’t claim you your filing status is single if you are unmarried.