Claiming Your College Student as a Dependent: What You Need to Know
As a parent, you want to do everything you can to help your child succeed. One way to do this is to claim them as a dependent on your taxes. But, can you claim your daughter as a dependent if she works and goes to college? The answer is yes, but there are some important requirements you must meet.
If your daughter is a full-time college student, you can claim her as a dependent until she is 24 years old. However, if she is working while in school, you must still provide more than half of her financial support in order to claim her. This means that you must provide more than half of her living expenses, such as food, clothing, housing, medical care, and education costs.
In addition, your daughter must meet the IRS definition of a qualifying child. This includes the following criteria:
• She must be a U.S. citizen, national, or resident alien.
• She must be under the age of 19 (or 24 if she is a full-time student).
• She must live with you for more than half of the year.
• She must not provide more than half of her own financial support.
If your child meets these requirements and is a full-time college student, you can claim them as a dependent until they are 24. If they are working while in school, you must still provide more than half of their financial support to claim them.
Claiming your daughter as a dependent can provide you with a number of tax benefits. For example, you may be able to claim her tuition and fees as a deduction, or you may be able to claim her as an exemption on your taxes.
It is important to note that the rules for claiming a dependent can change from year to year. Be sure to check with the IRS or a tax professional to make sure you are up to date on the latest rules and regulations.
Claiming your daughter as a dependent can be a great way to help her financially while she is in college. Just make sure you understand the requirements and keep up to date on any changes. With the right information, you can make sure you are taking advantage of all the tax benefits available to you. Jun 3, 2022.