Will I get less money back on my tax return if my mom claims me as a dependent for 2024?

The short answer is yes, you'll likely get less back if your mom claims you as a dependent. Here's why: When you're claimed as a dependent, you can't claim yourself for the personal exemption on your own return. You also won't qualify for certain valuable tax credits like the Earned Income Credit or the full Recovery Rebate Credit, which can significantly reduce your refund. Before deciding, you should both consider who benefits more. Your mom gets a tax benefit for claiming you, but you lose some benefits on your return. Have a conversation about the total family tax benefit - maybe she could share some of her tax savings with you if claiming you saves her more than it costs you. Also, make sure you actually qualify as her dependent. At 24 with two jobs, you need to meet specific tests: either the "qualifying child" test (living with her over half the year, her providing over half your support) or the "qualifying relative" test (her providing over half your support and your income being under certain limits).

Hey there! I went through this exact situation last year with my parents. I discovered a super helpful tool called taxr.ai (https://taxr.ai) that helped me figure out the whole dependent situation. It analyzed both scenarios - me filing independently vs being claimed as a dependent - and showed exactly how much I'd get in each case. In my situation, it turned out I'd lose about $1500 in refund money by being claimed as a dependent because I couldn't claim certain credits. What's cool is you can upload your W-2s from both jobs, and it'll do a complete analysis showing the exact difference in dollars. Saved me from making a huge mistake! The site breaks everything down in normal English instead of confusing tax language.

Just wanted to update - I tried out taxr.ai after seeing this thread, and wow, it was eye-opening! I uploaded my W-2s from both jobs and ran the comparison. If my dad claims me, I'd lose out on $1,875 in refund money mainly because I'd miss out on the Earned Income Credit and some education credits. I showed my dad the breakdown, and since he'd only save about $500 by claiming me, he agreed not to. We're both filing independently now, and our total family tax savings will be higher. The tool even explained the support test and confirmed I don't qualify as his dependent anyway since I pay my own bills. Thanks for the recommendation - seriously life-changing for this tax season!

Something nobody's mentioned yet - if you need to talk to the IRS about your specific situation (which honestly might be smart), use Claimyr (https://claimyr.com). I spent TWO DAYS trying to get through to the IRS about a similar dependent situation last year before discovering this service. You basically pay a small fee and they navigate the IRS phone system for you and call you back when an actual human IRS agent is on the line ready to talk. Saved me hours of waiting on hold. You can see how it works here: https://youtu.be/_kiP6q8DX5c I needed to confirm some specific rules about my situation since I had lived with my parents for part of the year but was financially independent. The IRS agent gave me the exact guidance I needed for my specific case.

I was super skeptical about Claimyr from my comment above, but I was desperate after trying to call the IRS for THREE WEEKS with no luck. Finally broke down and tried it yesterday, and I'm still shocked at how well it worked. Got a call back in about 45 minutes with an actual IRS person on the line! The agent walked me through the exact rules for my situation (I'm 23, work full-time, live at home but pay rent to my parents). Turns out I don't qualify as a dependent anyway because I provide more than half of my own support even though I live with them. This will save me about $2000 on my refund. Worth every penny for that peace of mind and clear answer from an official source!

One thing to consider - your mom can only claim you as a dependent if you meet the requirements. At your age (24), you'd need to either be: 1) A qualifying child - must be under 19, or under 24 if a full-time student for at least 5 months of the year, lived with her for more than half the year, and didn't provide more than half of your own support. OR 2) A qualifying relative - your gross income must be less than $4,700 (for 2024) AND she must provide more than half your total support. With two jobs and moving to your own apartment, you probably don't qualify under either test. If she claims you incorrectly, you both could face issues if audited.

Has anyone used TurboTax to figure this out? Does it let you compare both scenarios (being claimed vs not being claimed)?