TAXMAN Posted February 29, 2012 Report Share Posted February 29, 2012 TP age 25 made $5000 working for School. TP borrowed 25K to pay for tuition,R&B, books, and supplies. Dad co-signed the note. Dad paid all other expenses for TP. TP comes home on breaks and vacation. Question? Dependency exemption? Who gets? Education AOC and LTLC. Who gets what? It looks to me like Dad may be out in the cold on this one. Backing the R&B out I still have about 6000 in tuition payments. Many thanks to all that can help. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted February 29, 2012 Report Share Posted February 29, 2012 Too old to be dad's QC and earned too much to be QR. TP stands on his own for tax return. 1 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted February 29, 2012 Report Share Posted February 29, 2012 Agree with Lion. Tom Lodi, CA 1 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 29, 2012 Report Share Posted February 29, 2012 Agree with Lion and Bulldog Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted February 29, 2012 Author Report Share Posted February 29, 2012 I see we are in aggrement. Therefore that would give TP AOC and EIC. TP gets a deal Tax wise. 1 Quote Link to comment Share on other sites More sharing options...
mcb39 Posted March 1, 2012 Report Share Posted March 1, 2012 The education credits always follow the exemption. 1 Quote Link to comment Share on other sites More sharing options...
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