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Need help filling out taxes..?!?!?

So I'm currently a full-time student living with my parents. I did my 1098-T a week ago and I'm going to be get 1k back. My parents are doing there taxes and want to claim me and dependent(which I am) and If they do, they would need my 1098-T since It asks if any of the dependents is a full-time student. Would it be fine they claimed me and got 1k back?

6 Answers

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  • Bobbie
    Lv 7
    6 years ago

    So sure does sound like you did make and error when you did fill out and file your 2014 1040 FIT return before having a talk with your parents during this 2015 tax filing season .

    1040X Amended Individual Income tax return that you will have to use to correct the error that you did make on your 2014 1040 FIT return during the 2015 tax filing season for that purpose and time.

    Go to the www.irs.gov website and use the search box for the 1040X and then choose the instructions (HTML)

    http://www.irs.gov/uac/Form-1040X,-Amended-U.S.-In...

    http://www.irs.gov/instructions/i1040x/ch02.html#d...

    Line Instructions

    Calendar or Fiscal Year

    Above your name, check the box for the calendar year or enter the other calendar year or fiscal year you are amending.

    Lines 1 Through 31—Which Lines To Complete

    Before looking at the instructions for specific lines, the following information may point you in the right direction for completing Form 1040X.

    •Complete Part III, Explanation of changes.

    Hope that you find the above enclosed information useful. 02/08/2015

  • Anonymous
    6 years ago

    So, before you filed did you sit down with your parents and fill out the support test in IRS publication 501 to determine if 1) you supported yourself and 2) if your wages were more than 1/2 of your total support?

    If you did not support yourself, your parent could claim you and it would be their choice if they didn't.

    If your parents could claim you and chose not to, you could only claim the NON-REFUNDABLE part of the AOC.

    To get the $1000 back, you had to have supported yourself AND your wages alone had to be more than half of the total.

    If you didn't do the support test, how could you have filled out your tax return correctly when you didn't know the answers? I suspect you need to amend and your parents will have to file by mail.

  • Anonymous
    6 years ago

    If you are a full-time student, under the age of 24, and do not provide over half of your own support, your educational benefits, as well as all others, are claimed by your parents. You cannot claim them. You may only file to receive any withholding back, and you will pay tax on any earned amount over $6200, as you get the standard deduction, but not the personal exemption, which will be claimed by your parents. You DO NOT qualify for any educational credits.

  • tro
    Lv 7
    6 years ago

    it depends on what you are claiming 'getting' back,you are not entitled to the refund based on your tuition, your parents claim that no matter who paid it

    if your refund is strictly a refund of money withheld for income tax on your paychecks, that is your money

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  • Judy
    Lv 7
    6 years ago

    If they CAN claim you, the return you filed was illegal and you've screwed up your own filing AND theirs. And claimed the education credit illegally. Amend.

  • ?
    Lv 7
    6 years ago

    You need to ask a CPA, but it strikes me that there's something not quite right. I think you can get the refund provided no one claims you as a dependent. If you are being claimed as a dependent, then your parents get the refund, but you don't. Please ask a CPA.

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