Support test for college student filing Indepently

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sj1961
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Support test for college student filing Indepently

Post by sj1961 » Tue Jan 23, 2018 8:33 pm

My son is a high school senior and will be attending college in the fall. We have transferred appreciated stocks to him that will pay for his college and would like for him to qualify NOt as a dependent on our tax return so he can claim the AOTC as well as the standard deduction. Filing separate is not intended for him to in any way qualify for financial aid

I know he needs to provide over half his support which he can do
With the stock sale proceeds.

I have a few questions on qualifying expenses for the support test

1. Can we charge our 18 year old rent for a or pro-rata share of our mortgage without having to declare it as rental income? This is for the time period before he leaves in August

2. Our son is in private school for high school but am wondering about the support portion for his private school tuition this semester because of the timing beteeen calendar year and school year.

More specifically we paid the 2018 spring tuition bill in December

1. Could ds reimburse for the payment now so that he would have paid both his high school spring tuition and fall college room and board all in 2018 and easily pass the support test?

2. Or pay fall tuition in August and then in December pay tuition for spring 2019. Even though cash outlay is all in 2018 I think the December payment wouldn't count as 2018 support since it is for spring term 2019?

Appreciate any thoughts

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teen persuasion
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Re: Support test for college student filing Indepently

Post by teen persuasion » Tue Jan 23, 2018 10:25 pm

Sorry I'm not well versed in dependency details, but I wanted to warn you to beware of the kiddie tax with those appreciated shares. When DS2 was a college student, his girlfriend got hit with a big unexpected tax bill, and they didn't know why, but asked me for ideas. Asking a few questions, and doing a bit of research, I'm pretty sure (without ever seeing her tax forms) it was the kiddie tax. Her dad had gifted her appreciated stocks to sell to fund her college bills, presumably at her lower tax rate. Unfortunately, the kiddie tax meant her gains were taxed at her mom and step dad's higher rate. I believe the tax reform has changed this, and now it is the estate tax rate that applies for 2018.

Perhaps this link will help explain the pitfalls and rules: https://www.kitces.com/blog/liquidate- ... iddie-tax/

Michael Kitces explains some of the support and dependency details, too.

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Pajamas
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Re: Support test for college student filing Indepently

Post by Pajamas » Tue Jan 23, 2018 10:28 pm

You have to report the rental income on Schedule E.

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 7:27 am

teen persuasion wrote:
Tue Jan 23, 2018 10:25 pm
Sorry I'm not well versed in dependency details, but I wanted to warn you to beware of the kiddie tax with those appreciated shares. When DS2 was a college student, his girlfriend got hit with a big unexpected tax bill, and they didn't know why, but asked me for ideas. Asking a few questions, and doing a bit of research, I'm pretty sure (without ever seeing her tax forms) it was the kiddie tax. Her dad had gifted her appreciated stocks to sell to fund her college bills, presumably at her lower tax rate. Unfortunately, the kiddie tax meant her gains were taxed at her mom and step dad's higher rate. I believe the tax reform has changed this, and now it is the estate tax rate that applies for 2018.

Perhaps this link will help explain the pitfalls and rules: https://www.kitces.com/blog/liquidate- ... iddie-tax/

Michael Kitces explains some of the support and dependency details, too.
Yes the kiddie tax kicks in but if he files his own return and
Cannot be claimed as a dependent on ours (because of providing more than half his own support), he will have the personal deduction and AOTC to offset the kiddie taxes

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 7:30 am

Pajamas wrote:
Tue Jan 23, 2018 10:28 pm
You have to report the rental income on Schedule E.
Is there a legitimate way to share living expenses without it being consideeed income? If he pay the utilities directly perhaps?

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teen persuasion
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Re: Support test for college student filing Indepently

Post by teen persuasion » Wed Jan 24, 2018 8:20 am

Have you run thru the support test worksheet with estimated numbers? There's a link on that Kitces article. Since education expenses are included, those may dwarf any living expenses at home, and R & B tend to be much more expensive than living at home I have found with my kids. You may not have to worry about rent at all.

Next question: how does his college bill for spring semester, before or after December 31? One of my kids' colleges billed spring with a deadline in early December, so effectively a full year was paid in one year. The other 3 kids' schools do not bill until January, so college bills are 1/2, full year, full year, full year, last 1/2. As the AOTC can only be taken 4 times, DD1's college billing is actually much more useful and simplifies taxes. The half year numbers can be more challenging for us to balance scholarships vs tuition to be eligible for AOTC but minimize taxable scholarship income reporting. For you, a full year of expenses could easily tip the balance to non dependency because of higher education expenses paid by your child.

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bottlecap
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Re: Support test for college student filing Indepently

Post by bottlecap » Wed Jan 24, 2018 9:26 am

Have you spolen with an attorney? This smells a whole lot like tax fraud.

When your son is asked how he is supporting himself, his answer will have to be “With money (stocks) my Mom and Dad gave me.”

Yikes.

JT

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 9:47 am

Tax fraud? We have legally transferred and gifted stocks to him

The proceeds are his for paying for his college or whatever he chooses to use them for

But no I haven't spoken to an attorney - yet at least. If he uses those assets in his name though to pay for his school how could we possibly claim we are supporting him? The support has to come from one of us or him- and seems it would wrong/fraudulent for us to claim support if he is using his stock proceeds
Last edited by sj1961 on Wed Jan 24, 2018 9:56 am, edited 1 time in total.

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 9:53 am

teen persuasion wrote:
Wed Jan 24, 2018 8:20 am
Have you run thru the support test worksheet with estimated numbers? There's a link on that Kitces article. Since education expenses are included, those may dwarf any living expenses at home, and R & B tend to be much more expensive than living at home I have found with my kids. You may not have to worry about rent at all.

Next question: how does his college bill for spring semester, before or after December 31? One of my kids' colleges billed spring with a deadline in early December, so effectively a full year was paid in one year. The other 3 kids' schools do not bill until January, so college bills are 1/2, full year, full year, full year, last 1/2. As the AOTC can only be taken 4 times, DD1's college billing is actually much more useful and simplifies taxes. The half year numbers can be more challenging for us to balance scholarships vs tuition to be eligible for AOTC but minimize taxable scholarship income reporting. For you, a full year of expenses could easily tip the balance to non dependency because of higher education expenses paid by your child.
Thanks for your response. Because of merit scholarship he received his fall tuition payment may not be enough to meet the support test.
I believe the spring 2019 tuition bill can be paid in December 18 but am not sure in terms of the support test if that counts for 2018? Even though the cash payment is made in 2018 Should it be considered only for 2019 support?
Last edited by sj1961 on Wed Jan 24, 2018 10:00 am, edited 1 time in total.

clemrick
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Re: Support test for college student filing Indepently

Post by clemrick » Wed Jan 24, 2018 9:58 am

Your son needs EARNED income. Passive income, no matter what bills or rent he pays, doesn't count. Here is the IRS https://www.irs.gov/taxtopics/tc553. He needs to earn at least half of his support. Starting in 2018, the kiddie tax will use the trusts and estates rate instead of parents rates.

PatrickA5
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Re: Support test for college student filing Indepently

Post by PatrickA5 » Wed Jan 24, 2018 10:02 am

There are special rules for the refundable portion of the AOTC that you might want to look into. Basically, the student has to provide over half of his own support from earned income from working (i.e. a job). That lasts until age 24.

With your DS still being in high school until the Fall, I'd think you'd have a hard time saying he provided over half of his support (food, clothing, shelter, medical, etc).

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 10:04 am

clemrick wrote:
Wed Jan 24, 2018 9:58 am
Your son needs EARNED income. Passive income, no matter what bills or rent he pays, doesn't count. Here is the IRS https://www.irs.gov/taxtopics/tc553. He needs to earn at least half of his support. Starting in 2018, the kiddie tax will use the trusts and estates rate instead of parents rates.
Yes - he needs earned income to avoid the kiddie tax. He will not avoid kiddie tax

You do not need need earned income to provide half your support for determine your status as a dependent

I believe they are two separate tests

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 10:07 am

PatrickA5 wrote:
Wed Jan 24, 2018 10:02 am
There are special rules for the refundable portion of the AOTC that you might want to look into. Basically, the student has to provide over half of his own support from earned income from working (i.e. a job). That lasts until age 24.

With your DS still being in high school until the Fall, I'd think you'd have a hard time saying he provided over half of his support (food, clothing, shelter, medical, etc).
Correct I do not believe he will be eligible for the refundable portion of the AOTC as his earned income will be maybe only $2k

His support will come from unearned income

But if he files and is not able to be claimed as a dependent on OUR return I think he can use the AOTC credit against the kiddie tax on his stock proceeds
Last edited by sj1961 on Wed Jan 24, 2018 10:17 am, edited 1 time in total.

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Pajamas
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Re: Support test for college student filing Indepently

Post by Pajamas » Wed Jan 24, 2018 10:11 am

sj1961 wrote:
Wed Jan 24, 2018 7:30 am
Pajamas wrote:
Tue Jan 23, 2018 10:28 pm
You have to report the rental income on Schedule E.
Is there a legitimate way to share living expenses without it being consideeed income? If he pay the utilities directly perhaps?
There's no legitimate way that I know of for someone to avoid reporting rental income in this situation.

However, I am not a lawyer or an accountant, much less a tax specialist in either field.

Tax avoidance is legal, tax evasion is illegal.

Seems to me that you should seek professional assistance with this matter rather than trying to DIY, especially with major changes in federal income taxes for 2018.

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 10:15 am

Tax avoidance not evasion is the goal.

We do not currently have a tax advisor but are looking for one!

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Pajamas
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Re: Support test for college student filing Indepently

Post by Pajamas » Wed Jan 24, 2018 10:23 am

sj1961 wrote:
Wed Jan 24, 2018 10:15 am
Tax avoidance not evasion is the goal.

We do not currently have a tax advisor but are looking for one!
I think that would be wise because if you make a mistake, avoidance may look like evasion to the IRS. Then you would at least have someone else to blame if that happens. :beer

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 10:42 am

Pajamas wrote:
Wed Jan 24, 2018 10:23 am
sj1961 wrote:
Wed Jan 24, 2018 10:15 am
Tax avoidance not evasion is the goal.

We do not currently have a tax advisor but are looking for one!
I think that would be wise because if you make a mistake, avoidance may look like evasion to the IRS. Then you would at least have someone else to blame if that happens. :beer
Yes but I am trying to get a feel based on the experience of others before deciding if it is even worth seeing a tax advisor for this approach

So for example if it looks unlikely that there is a legitimate way for him to meet the support test in 2018 he would wait until 2019 when paying an entire year of tuition from his stock proceeds and meet the support test then.
Ideally he would like to sell the stocks now because of the market price but if not he would wait til next year to liquidate
Last edited by sj1961 on Wed Jan 24, 2018 10:45 am, edited 1 time in total.

kaneohe
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Re: Support test for college student filing Indepently

Post by kaneohe » Wed Jan 24, 2018 10:44 am

an interesting article on kiddie tax: https://www.forbes.com/sites/baldwin/20 ... a02de4325f

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 10:51 am

kaneohe wrote:
Wed Jan 24, 2018 10:44 am
an interesting article on kiddie tax: https://www.forbes.com/sites/baldwin/20 ... a02de4325f
Yes, this is similar to what we are looking into. However if the support test is met with unearned income and my son is not our dependent I believe then he is also allowed to take the standard deduction which would further reduce taxes owed from the LTCG

Wagnerjb
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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 11:01 am

sj1961 wrote:
Wed Jan 24, 2018 10:51 am
kaneohe wrote:
Wed Jan 24, 2018 10:44 am
an interesting article on kiddie tax: https://www.forbes.com/sites/baldwin/20 ... a02de4325f
Yes, this is similar to what we are looking into. However if the support test is met with unearned income and my son is not our dependent I believe then he is also allowed to take the standard deduction which would further reduce taxes owed from the LTCG
I believe you have a clear understanding of the two different support tests - one for the dependency exemption, and a different one for the Kiddie Tax. This article mentions a strategy similar to yours, and outlines the two different support tests.

https://www.forbes.com/sites/troyonink/ ... 95746e1994

Best wishes.
Andy

Wagnerjb
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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 11:07 am

sj1961 wrote:
Wed Jan 24, 2018 7:30 am
Pajamas wrote:
Tue Jan 23, 2018 10:28 pm
You have to report the rental income on Schedule E.
Is there a legitimate way to share living expenses without it being consideeed income? If he pay the utilities directly perhaps?
I am not a Tax Attorney, but I am highly skeptical that any parent in a similar situation (charging a teenager or recent grad for living at home) actually declares that "rent" as taxable income. I would love to hear from a practicing tax professional that has ever seen that situation reported as rent.

I suspect you can consider the payment by your son as cost sharing. He is no different than a roommate in an apartment.

You are asking some valid and good questions about the mechanics of the support test, to which I don't have any concrete answers. I encourage you to read the IRS publications that outline the support test calculations to see if they help at all.

Best wishes.
Andy

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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 11:20 am

sj1961 wrote:
Wed Jan 24, 2018 9:53 am
Because of merit scholarship he received his fall tuition payment may not be enough to meet the support test.
I believe the spring 2019 tuition bill can be paid in December 18 but am not sure in terms of the support test if that counts for 2018? Even though the cash payment is made in 2018 Should it be considered only for 2019 support?
The merit scholarship adds a few more moving parts to your equation.

The scholarship isn't reportable as taxable income to your son if it is used for tuition & books. If so, then those two amounts cancel each other out and are ignored. For example, if he got a $5k scholarship and used those funds for tuition of $7k - then he doesn't report any income from the scholarship, but he only reports the net $2k as educational expenses (for purposes of the AOT).

On the other hand, if his scholarship is $10k and he used it for $7k in tuition and $3k for room and board, then the $3k is taxable to the student (not the parent) and there are $0 in educational expenses. The $3k is considered "passive" (not earned) income to the child (unless he had to work in school to earn the scholarship).

As part of a tax volunteer program that I am involved in, I recently learned that - in such a situation - the student may elect not to offset the scholarship against the tuition. In the first example I gave, the student may choose to declare $2k as income - allowing him to claim a full $4k of college expenses. (He offsets only $3k of his scholarship against tuition, leaving $2k in scholarship income and $4k of tuition expense). This will result in a small amount of additional tax on the income, but also result in a much more robust AOT credit.

If your son uses the scholarship to offset tuition in 2018, I don't know why you wouldn't consider that scholarship as part of his "contribution" to his support in 2018.

Best wishes.
Andy

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Pajamas
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Re: Support test for college student filing Indepently

Post by Pajamas » Wed Jan 24, 2018 11:29 am

Wagnerjb wrote:
Wed Jan 24, 2018 11:07 am

I suspect you can consider the payment by your son as cost sharing. He is no different than a roommate in an apartment.
The owner of a house who is receiving rent for use of part of the house is different from a roommate with no ownership interest in the property who collects the money from roommates and submits it to the landlord.

The landlord (owner of the property) in your scenario must report the rent received as income.

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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 11:33 am

Yes Andy- that is our approach if it still valid for 2018. Other than I believe the 15% capital gains rate will not apply due to the new tax law it will come from the estate tax rates

The problem I am having is with the support test for claiming dependent status because of timing of expenses. Payment of 2019 spring tuition in 2018. Would that qualify as example for part of the 2018 support test?

kaneohe
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Re: Support test for college student filing Indepently

Post by kaneohe » Wed Jan 24, 2018 11:35 am

Wagnerjb wrote:
Wed Jan 24, 2018 11:01 am
sj1961 wrote:
Wed Jan 24, 2018 10:51 am
kaneohe wrote:
Wed Jan 24, 2018 10:44 am
an interesting article on kiddie tax: https://www.forbes.com/sites/baldwin/20 ... a02de4325f
Yes, this is similar to what we are looking into. However if the support test is met with unearned income and my son is not our dependent I believe then he is also allowed to take the standard deduction which would further reduce taxes owed from the LTCG
I believe you have a clear understanding of the two different support tests - one for the dependency exemption, and a different one for the Kiddie Tax. This article mentions a strategy similar to yours, and outlines the two different support tests.

https://www.forbes.com/sites/troyonink/ ... 95746e1994

Best wishes.
good article linking the dependency support test and the kiddie tax..........was wondering how they played together. Thanks for posting.

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 11:44 am

Pajamas wrote:
Wed Jan 24, 2018 11:29 am
Wagnerjb wrote:
Wed Jan 24, 2018 11:07 am

I suspect you can consider the payment by your son as cost sharing. He is no different than a roommate in an apartment.
The owner of a house who is receiving rent for use of part of the house is different from a roommate with no ownership interest in the property who collects the money from roommates and submits it to the landlord.

The landlord (owner of the property) in your scenario must report the rent received as income.
I understand that maybe if you are deducting property taxes and mortgage interest pre-2018 at least. If you have no deductions I wonder if it would still be income?

I would probably veer away from that route in any case. But what about cost sharing of utilities and food ?

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Pajamas
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Re: Support test for college student filing Indepently

Post by Pajamas » Wed Jan 24, 2018 11:55 am

sj1961 wrote:
Wed Jan 24, 2018 11:33 am
The problem I am having is with the support test for claiming dependent status because of timing of expenses. Payment of 2019 spring tuition in 2018. Would that qualify as example for part of the 2018 support test?
Here is the general rule for Qualified Educational Expenses:

Academic Period
You must pay the qualified education expenses for an academic period that starts during the tax year or the first three months of the next tax year. Academic periods can be semesters, trimesters, quarters or any other period of study such as a summer school session. Academic periods are determined by the school. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period.

https://www.irs.gov/credits-deductions/ ... d-expenses
sj1961 wrote:
Wed Jan 24, 2018 11:44 am
But what about cost sharing of utilities and food ?
That is addressed by the IRS and a worksheet is provided.

https://taxmap.irs.gov/taxmap/ts0/suppo ... 1c3073.htm

If your son reimbursed you for those expenses, then you wouldn't be providing them, nor would I consider that to be income because you are just collecting the money and passing it on to the utility company and grocery store. I doubt that would be looked at closely, anyway.

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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 12:01 pm

sj1961 wrote:
Wed Jan 24, 2018 11:33 am
Yes Andy- that is our approach if it still valid for 2018. Other than I believe the 15% capital gains rate will not apply due to the new tax law it will come from the estate tax rates
The Kiddie Tax will use trust tax rates in 2018. My understanding is that trusts also have a favorable zone for LT capital gains and qualified dividends, which is the 10% bracket (up to $2550 in income). If the trust income is less than $2550 and it is entirely LTCG, then you pay $0 in tax. You might find that for a modest amount of LTCG, the trust tax rates are actually more favorable than the 2017 Kiddie Tax law using the parent's tax rates.

Best wishes.
Andy

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Re: Support test for college student filing Indepently

Post by Nutmeg » Wed Jan 24, 2018 12:07 pm

sj1961 wrote:
Tue Jan 23, 2018 8:33 pm
My son is a high school senior and will be attending college in the fall. We have transferred appreciated stocks to him that will pay for his college and would like for him to qualify NOt as a dependent on our tax return so he can claim the AOTC as well as the standard deduction. Filing separate is not intended for him to in any way qualify for financial aid

I know he needs to provide over half his support which he can do
With the stock sale proceeds.

I have a few questions on qualifying expenses for the support test

1. Can we charge our 18 year old rent for a or pro-rata share of our mortgage without having to declare it as rental income? This is for the time period before he leaves in August

2. Our son is in private school for high school but am wondering about the support portion for his private school tuition this semester because of the timing beteeen calendar year and school year.

More specifically we paid the 2018 spring tuition bill in December

1. Could ds reimburse for the payment now so that he would have paid both his high school spring tuition and fall college room and board all in 2018 and easily pass the support test?

2. Or pay fall tuition in August and then in December pay tuition for spring 2019. Even though cash outlay is all in 2018 I think the December payment wouldn't count as 2018 support since it is for spring term 2019?

Appreciate any thoughts
My family was in a similar situation. Here are conclusions:
1. It was very hard to meet the test of a child paying more than half his expenses of all the other expenses we paid for the child, such as vacations, food, medical insurance, medical bills, car insurance,use of a car, etc. You might wish to fill out a worksheet totaling all that you pay for your son to see whether it is feasible to have him pay more than half in 2018.
2. The AOTC can be claimed for only four calendar years, so you would make your life easier by arranging for him to claim it beginning in tax year 2019 (his second and third semesters) than trying to make a lot of changes this year--unless you expect he will graduate early.
3. For calculating whether a child is a dependent, the entire cost of a car that you give is included in the year you give it, whereas allowing your child to drive a car you own means that a much smaller amount is included in support. We bought one child a car in a year that the child was a dependent for other reasons and let the other child drive our car until after college graduation, when we then transferred title to the child. If your son is driving your car now and you want to position your family so he can take the AOTC beginning in tax year 2019, you could consider re-titling the car in his name in 2018.
4. Timing of tuition payments is important. Tuition paid in 2018 for spring semester 2019 could be counted for AOTC if all the other tests were met, but if you pay it, it will count toward your son's support.
Last edited by Nutmeg on Wed Jan 24, 2018 5:28 pm, edited 2 times in total.

Wagnerjb
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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 12:08 pm

Pajamas wrote:
Wed Jan 24, 2018 11:55 am
sj1961 wrote:
Wed Jan 24, 2018 11:33 am
The problem I am having is with the support test for claiming dependent status because of timing of expenses. Payment of 2019 spring tuition in 2018. Would that qualify as example for part of the 2018 support test?
Here is the general rule for Qualified Educational Expenses:

Academic Period
You must pay the qualified education expenses for an academic period that starts during the tax year or the first three months of the next tax year. Academic periods can be semesters, trimesters, quarters or any other period of study such as a summer school session. Academic periods are determined by the school. For schools that use clock or credit hours and do not have academic terms, the payment period may be treated as an academic period.
So, if the 2018 payment of Spring 2019 tuition qualifies as a 2018 Educational expense, I don't see why it wouldn't also be considered in the support test. The spring 2019 tuition would be part of the total support cost for 2018, and your son's payment in December 2018 would be part of his contribution to his total support.

Best wishes.
Andy

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Re: Support test for college student filing Indepently

Post by Wagnerjb » Wed Jan 24, 2018 12:14 pm

I believe another poster in this thread has mentioned that the AOT can only be taken 4 times, and has also highlighted that a typical college student will be in school for parts of 5 tax/calendar years.

I used a strategy similar to that discussed here (gifting highly appreciated shares to child, not taking child's dependency exemption on my return, having child use AOT to cancel tax liability). Given the uncertainty around the AOT - it was supposed to expire during my children's college days - I would encourage the OP to take full advantage of the AOT every year possible. If that means your son's final spring semester must use another college tax benefit (lifetime learning), then so be it. But I would be very reluctant to leave the AOT on the table for 2018 with the expectation of using it for the next 4 tax years. Just my 2 cents.

Best wishes.
Andy

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 12:20 pm

If the 2019 tuition payment could be made in 2018 and be considered in the support test for 2018 that would be ideal

However the fact that private high school tuition was paid in dec 2017 for spring 2018 makes me unclear as to whether or not the 2017 expenditure mostly from our account (80%) sons (20%) has any bearing on the 2018 support test!
Last edited by sj1961 on Wed Jan 24, 2018 12:36 pm, edited 1 time in total.

sj1961
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Re: Support test for college student filing Indepently

Post by sj1961 » Wed Jan 24, 2018 12:25 pm

It would definitely be easier to wait til 2019 however we have a substantial amount of stock in a single company that we would like to liquidate due to both the risk of so little diversity in our portfolio and the favorable market price.

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