Tax question

[JeCa2224]

I'm 22, I still live with my mom and I just graduated college this past August (I was a full-time student up until August). I have worked full-time all of 2008. Because I have been a full-time student in the past, my mother has always claimed me, however I wasn't working full-time until 2008.

Can I claim myself on my 2008 taxes? I'm thinking yes.....any tax pros out there?

 

[Tilted]

I'm 22, I still live with my mom and I just graduated college this past August (I was a full-time student up until August). I have worked full-time all of 2008. Because I have been a full-time student in the past, my mother has always claimed me, however I wasn't working full-time until 2008.

Can I claim myself on my 2008 taxes? I'm thinking yes.....any tax pros out there?

NOT A TAX PRO. You should be able to claim yourself as long as she doesn't, obviously you can't both claim you for the same year. The fact that you still live with her shouldn't have anything to do with it, if that is what you are wondering.

It should be fairly easy to find a definitive answer on the IRS website.

 

[Joebagel]

I'm 22, I still live with my mom and I just graduated college this past August (I was a full-time student up until August). I have worked full-time all of 2008. Because I have been a full-time student in the past, my mother has always claimed me, however I wasn't working full-time until 2008.

Can I claim myself on my 2008 taxes? I'm thinking yes.....any tax pros out there?

You can claim yourself but why not let you mom get that deduction since she is the one putting the roof over your head?
GO RAVENS!!

 

[Ken King]

The answer is yes you can claim yourself, but you should talk with your mother to find out if it is more advantageous for your mother to still be able to claim you, especially if she provided over half of your support.

In general, to be a taxpayer’s qualifying child, a person must satisfy four tests:

* Relationship — the taxpayer’s child or stepchild (whether by blood or adoption), foster child, sibling or stepsibling, or a descendant of one of these.
* Residence — has the same principal residence as the taxpayer for more than half the tax year. Exceptions apply, in certain cases, for children of divorced or separated parents, kidnapped children, temporary absences, and for children who were born or died during the year.
* Age — must be under the age of 19 at the end of the tax year, or under the age of 24 if a full-time student for at least five months of the year, or be permanently and totally disabled at any time during the year.
* Support — did not provide more than one-half of his/her own support for the year.

 

[Tilted]

Publication 501 (2008), Exemptions, Standard Deduction, and Filing Information

It looks like you actually aren't suppose to claim an exemption for yourself if someone else is entitled to claim you as a dependent:

Who cannot claim a personal exemption. If you are entitled to claim an exemption for a dependent (such as your child), that dependent cannot claim a personal exemption on his or her own tax return.

And this will tell you whether or not someone is entitled to claim you as an exemption.

 

[SamSpade]

If she claims, you can't. From what I can tell, you qualify as a dependent

• Still a full-time student (defined as full-time for at least five months a year)and under 24.
• Mom is your legal guardian.
• Lives with mom at least half the year.
• Mom provides more than half support.

Is that right? Then she may legally claim you as a dependent.

On the other hand, she cannot get a refund on your taxes, and you should file yourself anyway, to get that money back. So even though you can't claim yourself, you can still file to get a refund.

 

[Beta84]

You can claim yourself but why not let you mom get that deduction since she is the one putting the roof over your head?
GO RAVENS!!

As said above, it depends on what you want to do. You can let her claim you and get a deduction, or you can claim yourself and save some money. If she claims, she gets money. If you claim, you get money. She'll save more money than you would...though that all depends on how much you made. Does she use an accountant? They'd be able to explain it to you.

Talk with your mom and see what she wants. Assuming she's been paying for you this year, if she needs the money then I think you should let her claim you as a dependant. If she doesn't really need the money or wasn't paying for much, then you should take it yourself. Or you could let her claim you as a dependent, determine how much you lose from taxes, and take that out of the money she gets back...so she still gets some as well. Maybe that would work :shrug:

 

[SamSpade]

Publication 501 (2008), Exemptions, Standard Deduction, and Filing Information

It looks like you actually aren't suppose to claim an exemption for yourself if someone else is entitled to claim you as a dependent:

He can still file, though, and should. He just doesn't get the exemption.

 

[Tilted]

He can still file, though, and should. He just doesn't get the exemption.

Yeah, definitely still needs to file, even if he doesn't take the exemption. Most likely, it makes more financial sense for the mother to claim the exemption anyway.

 

[JeCa2224]

You can claim yourself but why not let you mom get that deduction since she is the one putting the roof over your head?
GO RAVENS!!

Yes....but I have paid for my entire school expenses myself and I pay her $400 months rent. So it would be more beneficial for me to claim myself then for her to claim me, I'm assuming.

 

[Beta84]

Yes....but I have paid for my entire school expenses myself and I pay her $400 months rent. So it would be more beneficial for me to claim myself then for her to claim me, I'm assuming.

so basically you paid for almost everything? then i say you claim yourself.

 

[Tilted]

Yes....but I have paid for my entire school expenses myself and I pay her $400 months rent. So it would be more beneficial for me to claim myself then for her to claim me, I'm assuming.

You should both figure your taxes with and without the exemption and see who saves the most money. Whomever that is should take the exemption - if it is her she can just give you the difference. Most likely, it will be her, if she is in a higher tax bracket.

 

[JeCa2224]

You should both figure your taxes with and without the exemption and see who saves the most money. Whomever that is should take the exemption - if it is her she can just give you the difference. Most likely, it will be her, if she is in a higher tax bracket.

Good point. Thanks.

 

[JeCa2224]

If she claims, you can't. From what I can tell, you qualify as a dependent

• Still a full-time student (defined as full-time for at least five months a year)and under 24.
• Mom is your legal guardian.
• Lives with mom at least half the year.
• Mom provides more than half support.

Is that right? Then she may legally claim you as a dependent.

On the other hand, she cannot get a refund on your taxes, and you should file yourself anyway, to get that money back. So even though you can't claim yourself, you can still file to get a refund.

Yes I still get a refund, like I have the past how ever many years, however because my mom has been able to claim me I haven't got a refund higher than $350. That's why I'm trying to see if I can claim myself so I can get a decent refund and pay off some of my student loans.

 

[Beta84]

Yes I still get a refund, like I have the past how ever many years, however because my mom has been able to claim me I haven't got a refund higher than $350. That's why I'm trying to see if I can claim myself so I can get a decent refund and pay off some of my student loans.

if your mom doesn't plan on giving you any money (should she claim you) then you should claim yourself. if she's charging you rent then it sounds like she got enough of your money this year.

 

[aps45819]

Yes....but I have paid for my entire school expenses myself and I pay her $400 months rent. So it would be more beneficial for me to claim myself then for her to claim me, I'm assuming.

Let your Mom claim you one last time because you're grateful for all she's done.
Tell her Merry Christmas and give her a big hug

 

[JeCa2224]

Let your Mom claim you one last time because you're grateful for all she's done.
Tell her Merry Christmas and give her a big hug

lol okay I'll think about it