The Bros are a loosely affiliated collective of super secret ninja assassins who prey upon BMC drinkers and elderly clowns. #8 LaneMeyer, Mar 9, 2012 Paul68 likes this.
You may not qualify for a full standard deduction if your parents can claim you as a dependent on their return. In that case, your standard deduction is limited to the greater of $1,000 or your earned income for the year plus $350, but not more than the regular standard deduction amount.
Youâre correct that the dependent canât claim a personal exemption if eligible to be claimed by their parents. However, if the parents choose not to claim the child as a dependent the child can take the education credits. In that case neither the parents or the child claim a dependency exemption for the child.his is an important distinction because itâs an either/or situation in terms of who gets the tax break. If the parent claims the education tax deduction or credit, then the child (in this case, the dependent) canât claim it.