If your student has a part-time job and made more than the standard deduction amount for the tax year ($12,000 in 2018), they are required to file their own tax return. You can still claim them as a dependent, but you won’t be able to claim their income on your return. This should not affect what you can and can’t claim for college expenses.
What can I claim on my taxes as a college student?
For more information, see IRS Publication 501 Dependents, Standard Deduction and Filing Information. If the parents claim the student as a dependent, they may be eligible to take the American opportunity credit for eligible college costs, including tuition, books and supplies in the first four years of postsecondary education.
When do I not have to claim my student as a dependent?
If your student made less than the standard deduction amount ($12,400 in 2020), they are not required to file their own tax return, and you do not have to claim their income as a parent.
What’s the standard deduction for a college student?
Students who are single and earned more than the $12,400 standard deduction in 2020 are required to file an income tax return. That $12,400 includes earned income (from a job) and unearned income (such as from investments).
What happens if my son files his own tax return?
If you son qualifies as a dependent and files his own tax return, then he must properly check the box that says that he can be claimed on someone elses return. The most common error is that the child blows by that question and does not answer it correctly.
How much income does a child need to file a tax return?
The dividend and interest income was less than $10,400. Your child is required to file a tax return unless you meet the requirements to file your own return with your child’s income. Your child does not file a joint tax return.
