[Anonymous]

Hi everyone,

I have a few questions regarding an amended tax return. My parents and I went to a tax firm to get our 2015 taxes done. I was excited to be claimed as a dependent so I can help my parents get a refund or lower their tax liability.

I wasn’t present at the meeting so when my parents came back, they said the accountant told them I was “too old” to be claimed as a dependent. I checked all the criteria to be claimed as a dependent and I’m 99.9% sure he was wrong.

Anyway, I now want to pursue an amendment bc I’m confident I can be claimed as a dependent thus giving my parents a dependent exemption. My first Q is, can I go about doing the amendment alone (with my parents knowledge and approval)? If alone, how do I go about it? The benefit of doing it alone is that it’s free

Should I go back to the accountant instead? Does a tax preparer usually charge for an amendment and what is the fee range? The benefit of returning back to the preparer is that he can calculate how of a partial refund my parents will get back (assuming he was wrong about my parents not being able to claim me) and that way I can see if the benefits outweigh the costs.

My tax return will have to get amended too since “No one can claim me as a dependent” was checked off.

My parents owed the IRS on their return so if they do get the dependent exemption, this will lower their tax liability. This means they’ll get a partial refund of the amount they paid?

Any advice would help. Thanks.

[Missy]

Well they'd have to sign it so no you can't do it without them. Can you elaborate on why you think you'd be a dependant?

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Jay]

This link might help

https://www.irs.gov/uac/who-can-i-claim-as-a-dependent

I tried it on my self and mother. Got a big fat no. Gonna try it for my dog next.

Giving up is not an option.

REG 82
FAR 76
Aud 8/31/2016
BEC 11/30/2016

[Anonymous]

I know I wouldn't be able to file a return without my parents' signature so I am wondering which approach I should take.

In 2015, I was in grad school full-time for most of the year. I worked part-time whenever I was able to but my gross income was below the 2015 limit ($4000). I lived at home with my parents the whole year and they definitely provided more than half of my support.

[Missy]

Did you get anything back? Before anything else grab both returns and recalculate using the scenario of you as a dependant. There's a very good chance that any money you may have gotten back exceeds the benefit to them of claiming you as a dependant (assuming you were under the age of 25 at the end of 2015) then figure your next move. You certainly don't need to pay someone to do it on your behalf but it's not exactly straightforward either.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

Thanks @mla11692.

I was 29 by the end of 2015 so that would make me a qualifying relative. My refund for the year was one Ulysses Grant bill so it wasn't much haha. I'm willing to refund it if my parents' partial refund greatly exceeds that amount.

[KaliKingz]

First off, you CPA should amend your parents tax returns for no fee if s/he messed up.

in 2015, were your parents in AMT? Maybe the CPA knew that your parents wouldn't receive a benefit from claiming you, so that's why you were passed up on being claimed on your parents tax return.

Amending your own tax return is not as simple as filing a 1040, so I suggest you have the CPA do it for you.

Lastly, you need to consider that you will be amending two tax returns, so the cost may double if the CPA is charging you for the tax returns.

Good luck!

[Author]

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