If you answer yes, you are a student, the program will ask questions pertaining to a college student.
Can I claim my college student as a dependent TurboTax?
The student must select the option for “I can be claimed on someone else’s return”, on the student’s tax return. The student must select this option ieven f the parent’s qualify to claim the student as a dependent, and the parents do not claim them.
Why does TurboTax ask if I was a full-time student?
Being a full-time student is an issue if your parent’s are wishing to claim you as a dependent on their tax return. If you did any graduate school later in the year, that would count towards the 5 months for the full-time student test because the 5 months do not need to be consecutive.
What if I use TurboTax as an international student?
If as an international student, you must file Form 1040-NR, U.S. Nonresident Alien Income Tax Return. TurboTax does not support that form. The direct link for IRS information about Foreign Students, Scholars, Teachers, Researchers and Exchange Visitors will provide information for your specific situation.
What does TurboTax mean by student?
A student claims the amount of tuition they paid during the tax year and enters any applicable full or part-time months. The tuition deduction is a non-refundable tax credit.
How old do you have to be to claim a dependent on TurboTax?
January 8, 2020 7:16 AM Since your son is 24 years old and made more than $4,200 you cannot claim him even if you pay all of his expenses. If he was 23 years old and a full-time college student, then yes, you would still be able to claim him. At age 24, they no longer qualify as a qualifying child even if a full time student.
How does TurboTax determine who is a dependent on your tax return?
It can open the door to a large number of tax credits and deductions that can lower your tax bill. TurboTax will ask you simple, plain-English questions about your family and will determine for you who qualifies as a dependent on your tax return, so you can be sure you’re getting the biggest refund you deserve.
How to claim student loan interest in TurboTax?
Here’s how to enter your student loan interest in TurboTax. We’ll ask you questions to make sure you qualify and also calculate how much of a deduction you’re entitled to.
Can you put graduate student stipend on TurboTax?
TurboTax has 2 places where you could input your graduate student stipend. You can choose to enter the fellowship income in either one place or the other. Either way, if your earned income for the year is less than the contribution limit (in 2016, $5,500 for those under 50), you can only contribute up to your earned income.
