Q about income taxes and dependents.........

[madmom]

my 22 year old somewhat lazy daughter lives at home no job out of school, dad and mom both work we are her sole means of support. Can we still have her a a dependent on our taxes at the end of the year? She pays nothing for her keep.

[GoddessOfGuinness]

1. I don't think you can...

It's my understanding that you can claim them as long as they're full-time students. I'm not sure if this applies to post-grad work or not. Best to check with an expert. :hi:

[NewJeffCT]

2. It's possible (on edit - maybe not)

Is there an age limit on claiming my children as dependents?

Age will not prevent you from claiming your children as dependents. As long as the following four dependency exemption tests are met, you may claim him or her:

Citizenship or Resident test.
Joint return test.
Gross income test.
Support test.

Refer to Publication 501, Exemptions, Standard Deduction and Filing Information, or Tax Topic 354 , Dependents for more information.

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http://www.irs.gov/faqs/faq2-3.html


Check with Underpants or LizzieGrace, as they might know more than me (I have an accounting degree, but work in corporate financial reporting)

You can get more info from Publication 501 (named above) or Tax Topic 354