Saturday, August 21, 2010

Can i file as a dependent on my parent even if i own stock?

my father gave me stocks awhile back.i hav enot sold any stock and am not plannning to . i want to file dependent because if i do i will get free tuition under my moms employer?


can my stocks prevent me from filing dependent. if so why?and whay can i do about it?Can i file as a dependent on my parent even if i own stock?
Owning stock has nothing to do with whether you're a dependent of your parents or not. You can be claimed as a dependent by your parents if they support you and if you are under age 24 and a full-time student.





If you had income of your own this year, you'll need to file your own return as well, but that does not make you independent.Can i file as a dependent on my parent even if i own stock?
No. The stocks shouldn't affect anything if you are a student. Your parents will include any interest income on their return.
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