Parents and Dependency Question

Started by rjhtamu
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rjhtamu

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My parents want to claim me as a dependent this year on taxes because they still can and it will save them thousands of dollars, but the way that I've answered my questions on FAFSA, it says that I will be considered as an independent. So will my parents also have to claim me as an independent so that things won't be screwed up, or does it even matter?
 
Independent for the financial aid is not the same thing as dependent on the federal income tax. Although they sound related, they have totally seperate guidelines and are not tied to each other.
 
The FAFSA uses diff criteria for independent vs dependent. For example, by going to medical school, one is independent. However, some people live at home while in school, so their parents still claim them as dependents on their taxes. Just keep doing what you are doing. 🙂
 
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