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  #1 (permalink)  
Old 01-19-2007, 07:13 AM
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Join Date: Jan 2007
Posts: 5
Full-Time Student-Who should claim me??

I am a full-time student at Cal State Long Beach, who should claim me as a dependent?

I work on campus at the 49er's store, and make about $15,000 a year?

Tks.
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  #2 (permalink)  
Old 01-21-2007, 12:05 AM
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Join Date: Jan 2007
Location: New Jersey, USA
Posts: 825
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Dear Beedab,

In general, I have found that it is more favorable to have your parents claim you as a dependent as their effective tax rate would be greater than your tax rate.

In tax terminology, your marginal tax is less than your parents tax rate. Hence, it is more beneficial to have your parents claim you.
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