Can parents claim you on taxes after 18?
One of the most common questions among young adults transitioning to independence is whether their parents can still claim them on their taxes after they turn 18. The answer to this question depends on several factors, including the individual’s financial situation, marital status, and education status.
Under the IRS rules, parents can claim a dependent on their taxes if the dependent meets certain criteria. For individuals who are 18 or older, these criteria are slightly different from those for younger dependents. Here’s a closer look at the rules and how they apply to young adults.
Firstly, if the young adult is a full-time student and meets the following conditions, their parents can still claim them on their taxes:
- The student is under the age of 24 at the end of the calendar year.
- The student is a full-time student at an eligible educational institution for at least five months during the calendar year.
- The student’s income for the year is less than the amount of the standard deduction for their filing status.
In addition to being a full-time student, the young adult must also meet the following requirements to be claimed as a dependent:
- The young adult must be a U.S. citizen, a U.S. national, or a resident alien.
- The young adult must not file a joint return with a spouse, unless it is only to claim a refund.
- The young adult must not provide more than half of their own support during the year.
However, if the young adult is not a full-time student or does not meet the above criteria, their parents cannot claim them as a dependent. In this case, the young adult will need to file their own tax return and may be eligible for certain tax credits and deductions on their own.
It’s important for young adults to understand the tax implications of their financial and educational situations. By knowing whether they can be claimed as a dependent, they can make informed decisions about their tax responsibilities and potential tax benefits.
In conclusion, parents can claim their 18-year-old child on their taxes if the child meets specific criteria, such as being a full-time student and having income below the standard deduction amount. However, if the child does not meet these requirements, they will need to file their own tax return. It’s always a good idea for young adults to consult with a tax professional or use reputable tax preparation software to ensure they are meeting their tax obligations correctly.
