Do I have to claim my child as a dependent?
My 18 year old is FT student, paying all expenses from a custodial until 21 stock account and her own earnings. Can she file as independent?
My 18 year old is FT student, paying all expenses from a custodial until 21 stock account and her own earnings. Can she file as independent?
You do not have to claim a dependent on your return.
You must report all of your income and timely file is your obligation.
You will lose a possible $500 child tax credit, and any credits for the education.
The student would then have the 1098T as part of their return if they are claiming themselves.
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