Reply to How to declare 20-year-old independent

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[quote=Anonymous][quote=Anonymous]Can I gift my child enough money for tuition and living expenses, not claim him as a dependent on my tax return, have him file as independent, and have him claim residency in MD? He has part-time job in MD, rents in MD, and has MD driver’s license and voter registration.

I know he has to provide more than 50% of his support. Does the gifted money (which he owns) count as providing his own support? He is on our health insurance if that matters.[/quote]

You do not need to gift him the money.

If he is over 18 you can have him file his own takes, no longer claim him as a dependent on your taxes and he needs to have lived full time himself for one year in the state in question to get instate tuition. He will have to take care of all the paper work. Change his drivers license to that state for one year before applying for a change in residency.

People do this all the time. They buy condo's near a college or townhouses or houses. It's pretty common.

Every school has it's own list of residency requirements please have your child read them. Some schools are easier to get this chnage than others. Gifting him monies is not a good idea. [/quote]

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