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Daycare and Taxes>Just to Vent....
AnythingsPossible 08:09 PM 02-27-2016
So I have been working on my taxes this evening. Our son is no longer considered a dependent as he is 19 and away at college in the eyes of the IRS and as they do not consider him a dependent we can not deduct any of his education expenses that we help him pay. By not being able to claim him as dependent we lose a deduction and have lost the ability to claim his education expenses creating a 3,000 tax bill we now owe the IRS.
The interesting thing to me in this is that we can not claim him but he is required to claim our income for FAFSA purposes. In my opinion if the government wants to claim my money in regards to his schooling I should be able to claim him in regards to money the government wants from me. But the government does not agree!
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Tags:deduction - college expenses, taxes, vent
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