I am a fulltime student. Most of my expenses are covered by scholarship. I have earned income of $1400 and taxable scholarship income of $6,000. I am wondering if I still pass the dependency test if 1400 plus 6000 exceeds half my living expenses. Does the scholarship income count?
I believe I would be better off filing as 'not dependent on someone else'. Would it make me eligible for Covid stimulus?
Scholarships (even the taxable portion), and the expenses they cover, are ignored in the dependency support test. So, no, you did not provide $7400 of support. You only provided $1400.
The support value of the home, provided by the parent, is the fair market rental value of the home plus utilities & other expenses divided by the number of occupants.
The IRS has a worksheet that can be used to help with the support calculation. See: http://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
