Charles and Diana have a Son, William, age 21, who is a full-time student at Eto
ID: 2543659 • Letter: C
Question
Charles and Diana have a Son, William, age 21, who is a full-time student at Eton College.
Charles and Diana are no longer married.
The terms of the divorce allow Charles to claim the exemption for William.
William lived with his mother when he was not at school. He was at school 9 months of the year.
William paid from his own personal funds, tuition of $47,000 USD (£28,851 €33,300)
Charles and Diana provided more than 1/2 of William's support.
All are U.S. Citizens.
Who would be the person eligible to claim any education credit?
Explanation / Answer
As per the IRS, a child above 18 cans till be a qualifying child dependent, in case:
1. He is under age 19, or under 24 if a full time student for at least 5 months of the year, or is totally & permanently disabled
2. He did not provide more than 1/2 his own support. Scholarships are considered third party support and not as support provided by the student. Note that there is no requirement that you provided support.
3. He lived with the parent (including temporary absences such as away at school) for more than half the year.
In our case firstly, William is 21 and is fulltime student. Secondly, more than alf of support was provided by the parents, this means that he didnt provide for more than half of his support. And thirdly, he lived with Charles for 9 months (3 months he was with his mother).
Since all these conditions are met, Charles is eligible to claim any educational credit.