Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 2
If he works half of '06 it will be difficult to claim him as a dependent on taxes.

Debra refers to the gross income test for dependency. This test doesn't apply if he's under 24 and was a full-time student in at least five calendar months of the year, so for most grads it can be ignored in the year of graduation. Even if he doesn't qualify as a dependent because of the gross income test, medical expenses paid for him would still be deductible on the parent's return if the parent provided more than half the child's support for the year. Details are in IRS Publication 502.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.