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Additional Details
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poople4 | How much money do i have make in a year to not be able to be claimed by my parents? |
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Richard M
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It not a set dollar amount. It's whether you provide over half of your own support.
Your parents can claim you as a dependent if you:
1. Are under 19 or under 24 and a full-time student
2. Do not pay for over half of your own support
3. Lived with them for more than six months of the year |
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bostonianinmo
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There is no dollar amount. If you don't provide more than half of your OWN support your parents can claim you if you otherwise qualify as a dependent.
Under the Qualifying Child rule you can be claimed as a dependent if:
1. You are under age 19 or under age 24 if a full-time student for more than 5 months of the tax year.
2. You lived in your parents' home for over 6 months, excluding temporary absences for school, etc.
3. You provided less than half of your OWN support. (Your parents technically do not have to provide ANY of your support. Self-support is the ONLY support test that must be met.)
While your income could affect #3, what you do with your income is key. You must use it to provide more than half of your own support. If you save it, party it away, or spend it on things that don't qualify as support then the amount is irrelevant.
Note to Foamy: Be careful whom you call clueless. Your answer is no better than the rest. |
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Judy1
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It isn't an amount of money. It's a matter of providing over half of your own support for the year. If you made a million dollars but put it all into a savings account for the future and they supported you, then they could still claim you. |
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taxreff
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Unfortunately, you do not mention your age or student status. Those are critical for the correct answer to your question.
If you meet the definition of a qualifying child for your parents, there is no income limit. The question becomes whether you provide at least half of your own suppport.
If you do not meet the definition of a qualifying child, you must then see if you meet the definition of a qualifying relative. To be a QR, your parents must have provided over half your support and your income cannot exceed $3,400. |
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bow_wow_wow_yippieo_yippiea
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Less than $3400 unless you are disabled. I always thought it was if I my father provided more than 50% support. But it's been years since I've lived at home. |
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computer doctor
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If your parents pay more than 50% of your yearly support, they can claim you. They can include your earnings in their taxes, or you can file separately. |
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Kevyn
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Your income is an after issue really. If your parents are still supporting you, they can claim you as a dependent, and probably should. If you do not want your parents to be able to claim you on their taxes, you need to become completely self sufficient, ie. move out and pay your own rent, all your own bills and payments, buy all your own food. Good luck to you! |
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Foamy the Horny Squirrel
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Previous poster is clueless on this topic. If your parents claim you on their income tax forms, regardless of how much you make then thats what they did. You could have made a million dollars last year and if your parents claim you then you can not claim yourself, its that simple, plus they do not claim/add what you made in the previous year. The only way for them to not claim you is move out on your own and establish residency somewhere in your state or another state. If you are under 18 this will be difficult to do, because you will have to be emancipated from your parents. Good luck with that one. |
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tamrn02
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if your working you don't have to be claimed under your parents taxes, also if they do claim you they have to claim your income as well. |
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