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March 2, 2025
Question

my parents claim me on their taxes as i am a 20 year old full time student. I earned money this summer. Do I still qualify for the standard deduction when they claim me?

  • March 2, 2025
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    March 2, 2025

     If you can be claimed as a dependent by another taxpayer, your standard deduction for 2024 is limited to the greater of: (1) $1,300, or (2) your earned income plus $400 (but the total can't be more than the basic standard deduction for your filing status).

     

    Please read this IRS document for more information.

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