Question

Education Tax

Forum|Forum|6 years ago
February 16, 2020
1 reply
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I am 25 years old but just entered college . I am going to school have the time and still at my moms crib all year long unfortunately, I was wondering with the scholarship and fasfa if because I am a student could she get anything for claiming me??

KathrynG3

It depends. You could be eligible to claim any education credits, too.

There are several rules the Internal Revenue Service (IRS) uses to decide who is a dependent and more rules for deciding eligibility for claiming an education credit.

Dependent: While you would meet the relationship test, as her child, and the residency test, since you live with her, you would not meet the age test as a dependent. She would have to provide more than 50% of your support to meet the support test.

The IRS has an interactive tax assistant for the dependent question. Click the links to run through the online assessment.

Whom May I Claim as a Dependent?

Education Credits: An education credit can be claimed by someone incurring qualified education expenses if those expenses are greater than any scholarship received. The IRS has an interactive tax assistant for the education credit eligibility question. Click the links to run through the online assessment. Am I Eligible to Claim an Education Credit?

By answering the questions in TurboTax, all your details will be captured and automatically calculate your best option.

To compare the options and determine what is best for your family, prepare TurboTax for:

her tax filing with you included on her return and your tax filing with you claimed as a qualifying relative on your mother's return
her tax filing without you on her return and your tax filing with you claiming yourself

This is done with two TurboTax accounts, one for your mother, and one for you. No fees are charged until the return is actually filed. Therefore, you are free to change the input and compare.