FIRST: Thank you so much to anyone who takes the time to read my post and possibly gives me some feedback... youre awesome.
My parents are divorced and live in two seperate states.. (illinois and indiana) So I always thought I would be able to get in-state tuition in both states. I live and work in illinois but my school of choice is Purdue in indiana. I talked to admissions at purdue and the only requirement that i dont meet for in-state tuition is that i must be claimed as a dependent on my parents (either parent) taxes the year before I attend the school. However, I'm very much self supporting and had to claim myself last year.
So my goal for this year (late in the game) is to find a way to qualify as a dependent. Some general information about how my money works....
illinois parents provide: housing, food, health insurance, 1/2 tuition indiana parents provide: $1200/year i provide for myself: 1/2 tuition, all car expenses (gas, repair, insurance) clothes, cell phone, etc, etc, all the little things... i made like $11,000 last year at my small time job.
This probably isnt enough information... just ask if theres something else i should provide... but basically my question is this...
what do i need to do to count as a dependent? I know the broad rule is for my parents to cover >1/2 of my "support" but thats vague. And what about multiple supporters (both parents)? My first thought was that I need to cut back my hours at work and try to get by on as little money as possible or something... but i dont know anything about how taxes work... any tips or advice is more than appriciated!!! thanks again!!
Posts: 3 | Location: Edelstein, IL | Registered: 07-22-06
Originally posted by Derek: FIRST: Thank you so much to anyone who takes the time to read my post and possibly gives me some feedback... youre awesome.
My parents are divorced and live in two seperate states.. (illinois and indiana) So I always thought I would be able to get in-state tuition in both states. I live and work in illinois but my school of choice is Purdue in indiana. I talked to admissions at purdue and the only requirement that i dont meet for in-state tuition is that i must be claimed as a dependent on my parents (either parent) taxes the year before I attend the school. However, I'm very much self supporting and had to claim myself last year.
So my goal for this year (late in the game) is to find a way to qualify as a dependent. Some general information about how my money works....
illinois parents provide: housing, food, health insurance, 1/2 tuition indiana parents provide: $1200/year i provide for myself: 1/2 tuition, all car expenses (gas, repair, insurance) clothes, cell phone, etc, etc, all the little things... i made like $11,000 last year at my small time job.
This probably isnt enough information... just ask if theres something else i should provide... but basically my question is this...
what do i need to do to count as a dependent? I know the broad rule is for my parents to cover >1/2 of my "support" but thats vague. And what about multiple supporters (both parents)? My first thought was that I need to cut back my hours at work and try to get by on as little money as possible or something... but i dont know anything about how taxes work... any tips or advice is more than appriciated!!! thanks again!!
You say that in order to qualify for in-state tuition, you must be claimed as a dependent by either parent, which includes the Illinois parent. If that is the case, in order to be claimed as a dependent by your illinois parent, you must have lived there for at least 1/2 the year (residency requirement; I assume you live there?), and you must be under 24 years old (if a full time student) (age requirement), and over 1/2 of your support must have been provided by your parents (support requirement). In determining support, your portion is the 1/2 tuition, car expenses, etc. as you mentioned. You don't have to count income taxes and FICA taxes as part of your support, or anythong you might have put into a savings account. Your parent's portion is the housing (the fair rental value that your parent could get for your portion of the house, including a percentage of the utility bills), 1/2 tuition, food, insurance, etc. I believe you might also be able to add the $1200/yr from the Indiana parent. I don't know if that comes out to more than 1/2 your support. Remember, if you don't live with your Illinos parent, you can't be claimed as a dependent. Your illinois parent I would think wpould be glad to claim you as a dependent if qualified as one (will pay less taxes), however, when you file your tax return, you will not be able to claim yourself as a dependent, so you'll pay a bit more.
Posts: 625 | Location: Boston | Registered: 06-13-02
hey, thanks for your reply- you definately cleared up one of my questions... (what dependency is based on)
Not sure if you were asking, but yes... this seemed a bit too good to be true but i confirmed it with the school... the tax issue is the only problematic requirement they have for instate tuition qualification at all and i was thrilled to at least find that my parent in indiana doesnt have to be the one to claim me... more specifically they actually even put it in their letter to me that i would need to submit my indiana parents tax information AND my parents who claim me as a dependent... clearly implying that it doesnt matter which one it is.
its my understanding that when that time of year comes around for filing taxes that ill be messing around with a support test form of some sort to decide if im a dependent or not... im not interested in trying to bend rules or anything but im thinking that if im careful to add up everything that i receive from my parents that ill be able to make it work...
heres a strait forward question... will my total income for the year be a factor or just what money is actually spent on maintaining living? im really looking hard into that question because if my annual income being a certain ammount isnt a problem then ill go nuts for the rest of summer while i have two jobs and can get 60 hour work weeks out of the deal!
Posts: 3 | Location: Edelstein, IL | Registered: 07-22-06
Your own funds are not considered support unless you actually spend them on support for that year. 'Support' includes money spent on food, clothing, shelter, recreation, utilities, loans, tuition, automobiles, transportation, medical expenses, and other necessary expenses. It does not include money you put into savings or income taxes. If you get a scholarship, that is not support income either.
Posts: 625 | Location: Boston | Registered: 06-13-02
Originally posted by Derek: alright, awesome. thanks!
But don't shoot yourself in the foot. When a parent claims you as a dependent, the college will look at both parent and student income and assets when determining your qualification for any 'need based' scholarships they might be handing out. Be sure to check with the Financial Aid Office. I don't know your parents financial situation, but it's just something else to consider. In either case, you'll be eligible for government student loans to pay for part of tuition, both need based and non need based, but these must be repaid when you graduate, and the monthly payments at that point are something else to consider. Good Luck!
Posts: 625 | Location: Boston | Registered: 06-13-02
