Could I file as independent on taxes? - Tilted Forum Project Discussion Community

1337haxor · 12-08-2004, 04:23 PM

Hey,

Here is the situation I'm currently in. I am currently a student that lives at home, but for 6 months of the year I have a job. To pay for school I have a student loan which I plan on paying off on my own. Though I live at home, my parents don't pay for any of my expenses except food at home. I just pay them $200 a month and I can live at home.

At the moment, everything I buy for myself is with my money. I also pay my own bills. So far it seems like I would be able to file independently since over half of my living costs are not from my parents. But they recenty bought a car for me. Excluding the car, most of my expenses are from my income, but including the cost of the car it's pretty close to 50/50 if not over.

Would I still be able to file independently even though they paid for my car?

btw: I filed independently last year

Thanks,
Robert

mac03 · 12-29-2004, 07:43 PM

the legal terms for 'claiming someone' is if you provide 51% for that person.

If you provide the majority of your stuff on your own, you can claim yourself and your parents can't.... unless you let them. If you make less than 16k, you're going to get all your taxes back even filing 0. So you might want to let your parents claim you.

NOTE: this does not apply to FAFSA, just IRS tax filing.
FAFSA to avoid reporting your parents income you ahve to be 25 or older, marries, legally emancipated, (orpahaned, legal gaurdians dead.... etc)

ibis · 01-02-2005, 01:05 PM

Quote:

Originally Posted by mac03

NOTE: this does not apply to FAFSA, just IRS tax filing.
FAFSA to avoid reporting your parents income you ahve to be 25 or older, marries, legally emancipated, (orpahaned, legal gaurdians dead.... etc)

That's not always true. I'm 21, single, and not legally emancipated, yet declared as an independant for tax and student aid.

To become so, contact your finacial aid department and ask for a "dependancy override". You will have to document, with testomony from others, that there are special circumstances that should affect your dependancy status. Once documented, your case will be heard by a commettie that decides this sort of thing.

From what the origional poster has said about his circumstances, he should not be declared independant.

Good luck.

ibis · 01-02-2005, 01:17 PM

Also keep in mind, once you are not a dependant of your parents, you cannot be on their health care.

cj2112 · 01-02-2005, 01:20 PM

I think that if I were in your shoes, I would discuss this with my parents. If you claim that you are self supporting, and they claim you, both you and your parents may end up in a situation neither of you want to be in.

12-08-2004, 04:23 PM	#1 (permalink)
1337haxor Insane Location: PA	Could I file as independent on taxes? Hey, Here is the situation I'm currently in. I am currently a student that lives at home, but for 6 months of the year I have a job. To pay for school I have a student loan which I plan on paying off on my own. Though I live at home, my parents don't pay for any of my expenses except food at home. I just pay them $200 a month and I can live at home. At the moment, everything I buy for myself is with my money. I also pay my own bills. So far it seems like I would be able to file independently since over half of my living costs are not from my parents. But they recenty bought a car for me. Excluding the car, most of my expenses are from my income, but including the cost of the car it's pretty close to 50/50 if not over. Would I still be able to file independently even though they paid for my car? btw: I filed independently last year Thanks, Robert

12-29-2004, 07:43 PM	#2 (permalink)
mac03 Tilted	the legal terms for 'claiming someone' is if you provide 51% for that person. If you provide the majority of your stuff on your own, you can claim yourself and your parents can't.... unless you let them. If you make less than 16k, you're going to get all your taxes back even filing 0. So you might want to let your parents claim you. NOTE: this does not apply to FAFSA, just IRS tax filing. FAFSA to avoid reporting your parents income you ahve to be 25 or older, marries, legally emancipated, (orpahaned, legal gaurdians dead.... etc)

01-02-2005, 01:17 PM	#4 (permalink)
ibis PIKE!	Also keep in mind, once you are not a dependant of your parents, you cannot be on their health care.

01-02-2005, 01:20 PM	#5 (permalink)
cj2112 Unbelievable Location: Grants Pass OR	I think that if I were in your shoes, I would discuss this with my parents. If you claim that you are self supporting, and they claim you, both you and your parents may end up in a situation neither of you want to be in.