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Taxes: Should I claim myself or should my parents?

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Old 09-17-2008, 04:56 PM
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Default Taxes: Should I claim myself or should my parents?

I start my new job Monday, and I have to bring with me all the forms filled out.

The big debate right now is, do I claim myself, or should my parents still claim me?

Im 22, getting a part time job 30 hours a week. Ill probably make under 20k, and yes I go to school, but my parents pay the tuition and their is no loans involved.

What should I do and what will be the benefit?
Old 09-17-2008, 05:19 PM
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I suppose it also depends on how much your parents make and how much write off they can still use. Also how much your tuition is. If it s a substantial amount, they should probably claim you. just call your accountant, and they should be able to tell you better knowing your whole scenario.
Old 09-17-2008, 05:55 PM
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Not enough information but most likely it will benefit your parents more because they are probably in a higher tax bracket.
Old 09-17-2008, 06:57 PM
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Do your parents pay for more than 50% of your expenses? If yes, they should claim you.
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