I didn't claim my college kid as a dependent in 2020. It was close but I could prove the college kid provided more than 50% support. This allowed the student to receive stimulus checks that otherwise would not have occurred based on my income as my dependent.
Now for 2021, I'm planning to claim the college kid as my dependent; I can prove I provide more than 50% support in 2021. This provides me a $500 tax credit.
My question is will this raise a red flag and possibly cause an audit of my kid's taxes in 2020 (why she claimed herself in 2020 but not 2021)? We can defend 2020 but I would rather not trigger an audit if I can avoid it. Any advice is appreciated.
Didn't claim college kid in 2020 but will in 2021
Didn't claim college kid in 2020 but will in 2021
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Re: Didn't claim college kid in 2020 but will in 2021
You can't file incorrectly to avoid triggering an audit. Just file correctly and don't worry about it. You have the documentation to back up your returns.
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Re: Didn't claim college kid in 2020 but will in 2021
No, the IRS does not do look backs for comparison like that. People’s circumstances change every year. Get married, get divorced, adopt kids, move, change jobs, go to school, drop out of school. Etc. you get the picture.My question is will this raise a red flag and possibly cause an audit of my kid's taxes in 2020 (why she claimed herself in 2020 but not 2021)? We can defend 2020 but I would rather not trigger an audit if I can avoid it. Any advice is appreciated.
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Re: Didn't claim college kid in 2020 but will in 2021
This happened to us in 2019 and 2020 and haven’t been audited yet.
Re: Didn't claim college kid in 2020 but will in 2021
Thanks for the replies. This forum is really helpful.
In bear markets, stocks return to their rightful owners. - J.P. Morgan
Re: Didn't claim college kid in 2020 but will in 2021
You don't have to provide any support to claim a qualifying child. Rather the student cannot provide more than 50% of their support. Another person (grandparent, total stranger, etc) can provide all support and you can still claim him as long as the other tests are met (residency, age, student status, etc)March2009 wrote: ↑Tue Jan 25, 2022 4:08 pm I didn't claim my college kid as a dependent in 2020. It was close but I could prove the college kid provided more than 50% support. This allowed the student to receive stimulus checks that otherwise would not have occurred based on my income as my dependent.
Now for 2021, I'm planning to claim the college kid as my dependent; I can prove I provide more than 50% support in 2021. This provides me a $500 tax credit.
My question is will this raise a red flag and possibly cause an audit of my kid's taxes in 2020 (why she claimed herself in 2020 but not 2021)? We can defend 2020 but I would rather not trigger an audit if I can avoid it. Any advice is appreciated.