Dependent age for next year??

[leahjade]

For tax returns, will it be age 26 since the health insurance age is changing for full-time students living with parents? Or will it stay at under age 23?

 

[kaytieeldr]

There's no apparent reason the tax code or laws would change to coordinate with the health care bill, but you can see irs.gov or simply call the IRS. The customer service reps are extremely knowledgeable and helpful!

 

[figment52]

The tax law has not changed. The change was only for health care.

 

[maggiew]

I thought the cut off was 17??

My DD was 17 last tax return but has now turned 18. So I need to figure this out!!

Maggie

 

[torinsmom]

This is from H &R Block:

You can claim a dependent for a person who is a qualifying child or a qualifying relative. A qualifying relative can't be a qualifying child.

You can't claim a dependent exemption for a person if you can be claimed as a dependent by another person. If a married qualifying child or married qualifying relative files a joint return, you can't claim that individual's dependency exemption unless their return is only a claim for refund and no tax liability would exist for either spouse if they had filed separate returns. Generally, to be a dependent, an individual must be a U.S. citizen or resident (or resident of Canada or Mexico) for at least part of the year.

What is a qualifying child?
Having a qualifying child may enable you to claim several tax benefits, such as Head of Household filing status, the exemption for a dependent, the Child Tax Credit, the Child and Dependent Care Credit, and the Earned Income Credit. A child is considered to be a qualifying child if the child meets all of the following conditions:

* Relationship — The child must be your child or stepchild (whether by blood or adoption), foster child, sibling or stepsibling, or a descendant of one of these.
* Residence — The child must live with you for more than half the tax year. Some exceptions apply for children of divorced or separated parents, kidnapped children, temporary absences, and for children who were born or died during the year.
* Age — The child must be younger than 19 at the end of the tax year, or younger than 24 if a full-time student for at least 5 months of the year. Children who are permanently and totally disabled at any time during the year qualify regardless of age. If the child is not disabled, the child must be younger than you (and your spouse if you are Married Filing Jointly).
* Support — The child can't provide more than half of his own support for the year.


A child is not considered to be your qualifying child, even if the above tests are met, if you are not required to file a tax return and either do not file a tax return or file a tax return solely to get a refund of income tax withheld. So, another person who is unrelated to the child may be able to claim an exemption for the child as a qualifying relative.

If the parents of a child can claim the child as a qualifying child, but no parent claims the child, another person can claim the child as a qualifying child — only if that person's adjusted gross income (AGI) is higher than the highest AGI of any parent of the child.

What is a qualifying relative?
A person is a qualifying relative if that person is not a qualifying child and meets the following requirements:

* Gross income — The person has gross income of less than $3,650 for the year unless the person is disabled.
* Support test — You must have provided more than half that person's support for the year.
* Member of household or relationship test — The person must have either lived with you for the entire year as a member of your household or be related to you. Certain relatives are not required to live with you for the entire year.

 

[maggiew]

Thank you for the info.

I think I might have been thinking about the child tax credit being limited to 17 and under.

Maggie

 

[dizziedupbaby0127]

Thank you for the info.

I think I might have been thinking about the child tax credit being limited to 17 and under.

Maggie

Yes maggie your correct. The child tax credit is under 17, while a dependent exemption is 24 full time student and 19 non-student.

Source: I am a HnR Block tax rep.

 

[torinsmom]

So, if my son turns 17 next August, I get the child tax credit for him for 2011, but not for 2012. Is that right?

 

[dizziedupbaby0127]

So, if my son turns 17 next August, I get the child tax credit for him for 2011, but not for 2012. Is that right?

If your son turns 17 in Aug 2011 you can NOT get a child tax credit for that year (the 2011 return), this year if your son is turning 17 next aug, you will get the tax credit, this will be your last year. so your 2010 tax return will be the last you can get his child tax credit.

Now remember you can still take the dependent exemption, and who knows maybe they will change the rules

 

[torinsmom]

Wow, so the government considers a 17 year old who is still in high school to not be a child? I would consider under 18 to be a child.

 

[leahjade]

How about this situation? My son will be 24 in October of 2011, however he will be still be a full-time college student so can we claim him on our 2011 taxes?

 

[dizziedupbaby0127]

Wow, so the government considers a 17 year old who is still in high school to not be a child? I would consider under 18 to be a child.

YUP! you know who ever made that law, didn't have a 17 year old at home!

How about this situation? My son will be 24 in October of 2011, however he will be still be a full-time college student so can we claim him on our 2011 taxes?

You can claim your son as a dependent for the dependent exemption, as long as he is a full time student since he is 24, and does not provide more then 1/2 of his own income. I believe the current dependent credit is $3650.

 

[dbd]

You can claim your son as a qualifying relative at any age if he meets the income requirements.

 

[PatMcDuck]

I lost the ability to claim my 2 older kids quickly. The older one bombed out of college (long story) and the 2nd one did not go to college. They were working on and off, part time and full time, but even at age 18 I could no longer claim them, and they live here (STILL!) The flip side is that they file their own returns and get $$ back themselves, because their income was pretty low (improving the last 2 years though).

I remember looking carefully at the law/rule for dependents, because they sure seemed to be still be dependent on us.

 

[jsmith]

Wow, so the government considers a 17 year old who is still in high school to not be a child? I would consider under 18 to be a child.

Actually the logic is to limit the number of credits you can take-a fair number of youngesters graduate HS and start college the year they turn 17-both of mine did. Tax credits for college tution are higher than the child tax credit so it is to your benefit to take them instead-and the goverment wanted to prevent you from taking both.

 

[leahjade]

How does it work when your full time student child turns 24 for only the last 3 months of the year? Can they be claimed as a dependent for that last year or are they off your tax return that entire year they turn 24?

 

[dizziedupbaby0127]

How does it work when your full time student child turns 24 for only the last 3 months of the year? Can they be claimed as a dependent for that last year or are they off your tax return that entire year they turn 24?

You can not claim them as a Qualifying child but you may be able to claim them as a qualifying dependent. Once your child turns 24, if you are still paying 50% or more of their support and they are living with you or away at college, you may claim them as a qualifying dependent and still take the $3650 exemtion.

The difference between a qualifying child (the 23 year old in college) and a qualifying dependent (24 but still living at home working part time making say $3000 a year) is that if you have a qualifying child you may be eligible for other tax credits such as Earned Income credit.

 

[leahjade]

Age — The child must be younger than 19 at the end of the tax year, or younger than 24 if a full-time student for at least 5 months of the year[/QUOTE

Now I'm really confused ! The above poster said younger than 24 but the latter poster said 25?

 

[LisaNJ25]

Wow, so the government considers a 17 year old who is still in high school to not be a child? I would consider under 18 to be a child.

Stupid isnt it.. My son will turn 18 next week and is a high school senior.

 

[maggiew]

Actually the logic is to limit the number of credits you can take-a fair number of youngesters graduate HS and start college the year they turn 17-both of mine did. Tax credits for college tution are higher than the child tax credit so it is to your benefit to take them instead-and the goverment wanted to prevent you from taking both.

Does room and board count toward the college educational expenses? Or is it just tuition? Thankfully my DD gets a tuition waiver for college since I work at the college. But she lives on campus. Is there anything we can claim? We did buy her a laptop and we pay for books.

Maggie