https://www.irs.gov/publications/p501#e ... 1000220886
#3. To meet residency test, your child must have lived with you for more than half the year.
#4. To meet support test, the child can't have provided more than half of the child’s own support for the year.
Suppose the child is 20 yo and a full-time college student with full ride scholarship ($20k/yr stipend) away from home with 0 financial support from parent.
Can parent claim child as dependent or not? Depending on how I interpret the "exceptions" to the rule, the answer may go either way so I'm asking the community for clarification.
#3. To meet residency test, your child must have lived with you for more than half the year.
#4. To meet support test, the child can't have provided more than half of the child’s own support for the year.
Suppose the child is 20 yo and a full-time college student with full ride scholarship ($20k/yr stipend) away from home with 0 financial support from parent.
Can parent claim child as dependent or not? Depending on how I interpret the "exceptions" to the rule, the answer may go either way so I'm asking the community for clarification.
Statistics: Posted by acegolfer — Fri Mar 29, 2024 10:41 am — Replies 2 — Views 138