A Guide to Filing Your Tax Return Independently

Tax season is here, and deciding whether to file independently from your parents can be tough, especially if it’s your first time. The choice depends on your financial and living situation—but where’s the line drawn?

1. Age

   While some people may feel "old beyond their years," the IRS doesn’t consider “spiritual age. If you're under 24, your parents may claim you as a dependent when they file their taxes. To meet the qualifying child test, you must be younger than your parents (or your parents’ spouse if filing jointly). Additionally you must be younger than 19 years old or a "student" under 24 at the end of the calendar year. Once you’re over 24, you're generally considered independent for tax purposes, though exceptions exist for those with disabilities who need care beyond age 24.

2. Parental Support

   Support can be emotional or mental, but for filing taxes, only financial support counts. If they financially provide you funds that are equal to or greater than half of your annual income, then you must file as dependent. Filing as an independent could result in more benefits, but you must meet IRS guidelines to avoid issues.

3. Living Situation

   If you lived with your parents for more than half the year, you’re a dependent in the eyes of the IRS. Students who split time between a campus dorm and home should consider carefully to determine their status. Filing taxes incorrectly can lead to delays, even if you believe it would maximize your tax return.

Here are some other areas to understand when choosing to file your taxes:

• Claiming Your Status

  Defining your dependency, or independency, come tax time has a very large financial effect on your returns for that year. You should NOT file as dependent because you wish to be deemed as such, or because you think your return will be larger by doing so. Ultimately your return will be rejected by the IRS or state and it will mean more paperwork for you in the end. It’s more important to file your taxes correctly the first time and avoid getting flagged.

• Can You Claim Yourself as a Dependent?

  You can’t claim yourself as dependent on your taxes. Tax dependency is limited to qualifying dependent children and relatives only.

• When Do You Have to File Taxes?

  You must file your tax return by the 15th day of the fourth month after your fiscal year ends. If that day falls on a Saturday, Sunday, or legal holiday, the due date is pushed to the next business day. Your return is considered on time if the envelope is properly addressed, postmarked, and mailed by the due date. If you can't meet the deadline, you can request an automatic 6-month extension to file. However it’s important to understand there are still steps you must make within the deadline. Stay informed on all things tax-related to make your tax season easier!