"Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote:
- quote -

Last time I checked, college students were adults and
responsible for their own actions.

- quote -

How hard can it be to understand "if someone else CAN claim
you as a dependent"? That's nine words, none of which
contain more than three syllables. I understood them and I
wasn't even an accounting major.

- quote -

THAT I will agree with.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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David Woods, EA, ChFC, CLU wrote:
- quote -

No NO NO. It's the parents' obligation to make sure their
offspring do the right thing. And that takes parental
supervision, something today's parents are in the main sadly
deficient at .. (at?) ...parents at which are sadly
deficient.

College students are not necessary well read when it comes
to taxes. Just like in the army where there were always
"barracks lawyers", there are also these days "dormitory
lawyers" who show their fellow students how to fill out a
tax return withOUT reading the instructions, claim
themselves to maximize their "return".

If my son were in college, and IF he did such a thing when I
was still supporting him AND paying his tuition, he'd miss
the next semester's tuition, since by filing his own return
claiming himself, he would then be demonstration his
emancipation.

Bottom line. If a student is still a true dependent of
parent, and receives parental support even to the extent of
tuition, books and a car, then it is NOT his "right' to
claim himself.

ChEAr$,
Harlan Lunsford, EA n LA
24 Mar 2005

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"Harlan Lunsford" <hlunsford[at]bellsouth.net> wrote:
- quote -

Isn't it the STUDENT'S obligation to know what his filing
status is? I mean when you get right down to it, if you
don't know how to prepare a return but are somewhat
educated, you read the instructions. My recollection (from
when_I_was a college student) is that it was CRYSTAL clear
that you did not claim your exemption if you could be
claimed by another. I know of nothing in the last 10 years
that's changed in that regard. Bottom line, if a student
does take the exemption, he or she does so willingly and
knowingly and figures they deserve the money and not their
parents.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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Phil Marti wrote:
- quote -

While I know full well what you're saying Phil, in these
days and times, more and more students are finding out how
to file their tax returns on the web in early February.
They invariably claim themselves and then when parents file
(rightly) claiming their clueless children, they find out
"SSN already claimed on another return". And it hits the
fan.

So while he's a "big boy" now, and may be responsible for
filing his own tax return, parents need to do a better job
in educating their kids about the dependent's exemption.
And in time, too.

I've had several cases already. In the more egregious
example, the bad son over at University of Georgia filed
early, claimed himself, and parents (well, the mother) when
she found out that they lost the exemption of 3,050 at 28%
tax bracket, PLUS they had paid tuition which at Athens
ain't low, so they lost out on that credit, also. Of course
the tuition tax credit, even if bad son had known about it,
wouldn't have benefited him one iota.

I advised her to amend son's return so they could claim him,
but she and husband decided to just "let him do his own
thing." Oh; did I forget to mention all the money they put
out on this kid when he wrecked his car?

ChEAr$,
Harlan Lunsford, EA n LA
Sun 20 Mar 2005

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The biggest reason to file is if he paid any income tax at
all. Then he'd proably get it all of it refunded at that
low income level.

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Jenny wrote:

- quote -

If his total income is less than the standard deduction
($4750?), and his unearned income is less than $750 (or
maybe $800, now), he doesn't have to pay taxes. I haven't
checked whether he has a filing requirement.

State taxes may be different.

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He files a regular 1040EZ for any refund he might want to
receive. He does not claim himself. You claim him as long
as he is a student under 24 and you support him.

Missy Doyle

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"Jenny" <cjsh2125[at]hotmail.com> wrote:

- quote -

He's a big boy now, and from now on he's responsible for
filing his own tax returns.

- quote -

It sounds like he qualifies as your dependent. See the
rules in Publication 501. Again, you don't handle his
income.

He will file his return as someone who can be claimed as a
dependent. Assuming that $1200 was from a job, he will owe
no tax.

--
Phil Marti
Clarksburg, MD

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- quote -

Yes.

- quote -

You can still claim him as a dependent. YOU do not handle
his income. He reports his income on his tax return. His
income does not appear on your return or affect your return.

On your son's return, he does not get an exemption for
himself, and he has to use a worksheet in the Form 1040
instructions to determine his standard deduction. As he goes
through the form and instructions, he should be alert for
special instructions for someone who can be claimed as a
dependent by someone else.

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I have a son in college who is 19. He made some money during
summer about $1200. Does he need to file 1040 by himself?
and I cannot claim him as dependant? I am supporting his
tuition/room/board and can I still claim him as dependant in
my tax? if I claim him as dependant, how do I handle his
income?

thanks

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