I know it's early but.. For 2020 tax year, Still a dependent? What education credits/deductions can be claimed, and by who. Stimulus eligibility?
Daughter, 21 just graduated college in May, got job out of state in June, still living at home with us here in NY and working remotely until Mid August. She will then be moving out of state.
She has always been a dependent on or taxes including 2019. I took the
I've been taking the the American Opportunity Tax Credit for the 4 years, 2016-2019. She does have around $20k in fed student loans in her name so I'm not sure about how deducting interest will work.
I'm trying to figure how the tax situation will end up or if there are options to maximize overall refunds by planning ahead.
I know it's early but.. For 2020 tax year, Is she still a dependent on my taxes for 2020?
If not, any idea if will then be eligible for the first stimulus check, and /or the possible upcoming one?
Also, are there going to be any type of education credita/deductions that either her or us will still be eligible for in 2020?