Long story short, I turned 24 this year. I'm filing my taxes separately from my parents and planning on claiming myself as independent. I go to college and pay for that myself. All the loans are in my name and I also paid out of pocket for part of it. I have a job making roughly 10,000 a year. My parents pay for my car and insurance and don't charge me rent, but I purchase everything else for myself including food and gas. My parents say they are going to loose 25,000 if they don't claim me as dependent. They say they need my 1098T which is my tuition statement. But to me, I paid for my tuition so why should they be able to use it for a tax break? Can someone please explain the best way to go about this so that neither my parents or I get screwed. I am also going to veterinary school next year so the way I file my taxes will affect my loans and such. I don't want to mess it up when it will cost over 300,000 dollars.
Thanks in advanced!
Submitted April 15, 2018 at 12:12PM by evry-other-freckle https://ift.tt/2EO2Hx5
