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https://www.hrblock.com/tax-center/filing/dependents/student-loans-and-your-dependents/
Student loans don’t constitute income. A dependent’s income must be below the $4,200 threshold only if the dependent is a qualifying relative. Since this person is your child, the income requirement might not matter. However, the student loans are considered support to test if …
https://dsjcpa.com/is-your-college-student-still-your-dependent/
Feb 12, 2015 · Whether a particular item is taken into account in the support test depends on the source of funds used to pay it. College students draw on many resources to pay for their education, including personal and family savings, gifts, part-time jobs, scholarships and student loans.Location: 5788 County Rd 1, Massapequa, 11758, NY
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http://www.finaid.org/educators/supporttestform.phtml
Support Test Form. The following form may be used to determine whether a person provides more than half of the support for another person. It is based on the Worksheet for Determining Support that appears in Table 5 on page 13 of IRS Publication 501 Exemptions, Standard Deduction, and Filing Information.
https://apps.irs.gov/app/vita/content/globalmedia/teacher/worksheet_for_determining_support_4012.pdf
Worksheet for Determining Support Funds Belonging to the Person You Supported 1. Enter the total funds belonging to the person you supported, including income received (taxable and nontaxable) and amounts borrowed during the year, plus the amount in savings and other accounts at the beginning of …
https://studentloanhero.com/featured/how-to-prove-undue-hardship-for-student-loans/
Oct 02, 2019 · Defaulting on student loans can lead to wage garnishment, calls from collection agencies and ruined credit, which discharging your loans could free you from. If bankruptcy is a path you’re considering, here’s what you need to know about proving undue hardship for student loans: What is undue hardship? How to declare undue hardship
https://www.justanswer.com/tax/0lmnx-proceeds-student-loan-considered-support.html
Feb 21, 2007 · Are proceeds of a student loan considered support. ... parents pay $6,000 toward support and student took out $10,000 in loans which the parents cosigned, does he meet the support test so parents can claim him as a ... To meet the support test for qualified child - the child cannot have provided more than half of his or her own support for ...5/5(40.9K)
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