posted
If you are under the age of 24, not married, do not have children or legal dependents who receive more than half of their support from you, and your parents are still alive or you are a ward of the state then legally you are consided a dependent.
Posts: 1947 | Registered: Aug 2002
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posted
I'm 21 and about to be a full-time grad student whose only source of income will be a low-paying assistantship that won't even cover my food and utilities.
But for some reason, I thought you couldn't be a dependent if you were in grad school.
posted
It's actually for legal residence...I'm not worried about taxes yet; my earnings this year currently total $0. I just figured that if I was still a dependent, I would still be a Florida resident no matter what.
But legal residence might be an issue with health insurance.
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pH, do you have other means of financial support? Surely you must, else you'd be homeless and starving. Parents?
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quote:It's actually for legal residence...I'm not worried about taxes yet; my earnings this year currently total $0. I just figured that if I was still a dependent, I would still be a Florida resident no matter what.
But legal residence might be an issue with health insurance.
It's pretty much up to you, but you have to do certain things which might differ from state to state. I'd start with checking what you have to do to register to vote where you want to be a resident.
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posted
*LOL* Swampjedi, my parents are supporting me until I finish school, including any and all grad school, thankfully. 'course, I also got a nice scholarship for undergrad. But yes, my parents and I have an agreement that they support me as long as I'm a full-time student.
My big issue with changing states of residence is what will happen with my car...it's in my name and has Florida plates...so would I have to change the registration to Louisiana? Becaue that'll cost several thousand dollars. Plus, insurance is more expensive here, I believe.
quote:My parents claim me on their income tax, but I have a job and consider myself independent. Can I apply using my own documentation?
As long as your parents claim you as a dependent, you cannot apply as an independent.
I'm less than 24 years old, but I am not claimed by my parents on their income tax. What documentation do I submit?
To prove your independent status, you will need to provide a copy of their 1040 tax return to document that you were not claimed. Then submit your own primary documentation.
quote:Originally posted by pH: My big issue with changing states of residence is what will happen with my car...it's in my name and has Florida plates...so would I have to change the registration to Louisiana? Becaue that'll cost several thousand dollars. Plus, insurance is more expensive here, I believe.
-pH
I don't understand. WHAT would cost several thousand dollars?
Posts: 1990 | Registered: Feb 2001
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quote:Originally posted by pH: It's actually for legal residence...I'm not worried about taxes yet; my earnings this year currently total $0. I just figured that if I was still a dependent, I would still be a Florida resident no matter what.
But legal residence might be an issue with health insurance.
-pH
You're still a dependent of your parents for monetary and tax purposes.
Your legal residence is where the money that supports you comes from. Especially if you go to your parents' house during school breaks and such. That's your home, the place you actually live most of the year is just a campsite.
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Boon
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quote:Originally posted by Dagonee: pH, if this is for taxes, I reccomend you ask Boon. She's very knowledgeable.
If you check your school's policy on enrollment, you'll note that your legal residence is your parents' home. Note that you pay "out-of-state" tuition rates.
Furthermore, your parents claim you as a dependent on their taxes, so for all intents and purposes, you still live under the umbrella of their household.
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quote:Originally posted by Boon: Okay, here's why I said that:
If you check your school's policy on enrollment, you'll note that your legal residence is your parents' home. Note that you pay "out-of-state" tuition rates.
Furthermore, your parents claim you as a dependent on their taxes, so for all intents and purposes, you still live under the umbrella of their household.
Well, I go to private school, and I don't pay any tuition because of my scholarship. But speaking of that, do you have to pay taxes on scholarship money? I mean, it's not like they write me a check.
What if I own property in Louisiana, even though my parents are paying my bills?
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Boon- I copied that from my school's financial aid website. But people's responses are making me wonder. How accurate was my advice?
pH- I know you don't have to pay taxes on scholarship money that is used for tuition, books, or other education related expenses.
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posted
You have to pay taxes on scholarship monies not spent on tuition and certain academic expenses like books. For instance, anything spent on room and board is taxable.
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Boon
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quote: Boon- I copied that from my school's financial aid website. But people's responses are making me wonder. How accurate was my advice?
Very accurate as far as the college is concerned. The rules for taxes are different.
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Boon
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quote: What if I own property in Louisiana, even though my parents are paying my bills?
-pH
Doesn't matter. As long as you're a student and under 24, your legal residence is your parents' home, period. (Unless you're married or have kids.)
(And it doesn't matter how old you are or whether you actually live with them for tax purposes. If they pay more than half your upkeep, you're their dependent..but that has no bearing on legal residence, so ignore this.)
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Hmmmmm. So if my place in Louisiana is in my father's name right now, I can claim Louisiana residence? But then what happens when it changes to my name?
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Yes...but when it changes to your name (unless you're 25 or older or your parents aren't claiming you as a dependent anymore) you'll have to change it back to a place where they do live (or own a second home).
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Take it from someone who has racked up more than $200,000 in medical bills in the last six months and there's a lot more to come.
No offense intended, but if they can afford to pay for your school (and I know the school you attend isn't cheap) why can't they get health insurance? I would think as a parent, providing medical coverage for my daughter would be at least as important to me as providing money for her education.
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posted
Isn't there a school health plan? My school had health insurance you could buy from them ... and a clinic on campus.
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Yes, there's a school health plan. But I want a health plan that I can keep AFTER I finish school.
On top of the fact that the school health plan sucks, doesn't cover prescriptions, and gives me no choice in doctors or hospitals.
That's the thing. I'm not worried about right this very second. Although prescription coverage would be really nice. I'm worried about The Future, when I get a real job. And when my parents aren't around to pick up the tab...my dad's a 68-year-old smoker.
posted
Then why not just find an insurance plan you like and pay for it (or have your parents pay for it)? What does being a dependent or where your legal residence is have to do with it?
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quote:If you check your school's policy on enrollment, you'll note that your legal residence is your parents' home. Note that you pay "out-of-state" tuition rates.
quote:Doesn't matter. As long as you're a student and under 24, your legal residence is your parents' home, period. (Unless you're married or have kids.)
Am I missing something here? Single, childless students under 24 declare independence and residency in another state all the time, specifically to get resident tuition rates at state schools.
Edit to add: no snark or anything intended, I really am confused.
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Boon
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But you can only do that if your parents don't claim you, and you can prove that you support yourself. Otherwise, you have to be 24, married, or have dependents of your own.
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But you're not paying for it anyway. Just get health insurance, so you're covered. Then, if and when you graduate you can switch it to your name or just switch providers entirely.
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quote:Originally posted by El JT de Spang: But you're not paying for it anyway. Just get health insurance, so you're covered. Then, if and when you graduate you can switch it to your name or just switch providers entirely.
Just because I'm not paying for it doesn't mean I don't need to be concerned with the cost. Besides that, the whole idea is to KEEP this policy after I finish grad school.
That's the thing. Like I said, this isn't for my parents. This is for ME.
posted
Well, I for one commend you for being smart and knowing you need good insurance and trying to get it.
I know it's frustrating to be looking for different plans - when Wes first started his company we briefly considered him quitting the fire dept and running the business full time and so we shopped for insurance.
It's a nightmare navigating all the paperwork and evaluating all the plans. I wish you luck.
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posted
Thanks, Belle. Yeah, I'm having a hard time figuring out EXACTLY what each plan MEANS.
Another thing I feel I should explain about my dad: He's kind of a control freak when it comes to my finances. In other words, I can rebel against my father simply by opening my own bank account without consulting him, getting a cell phone without consulting him, purchasing stocks without consulting him, signing a lease without consulting him...
And he doesn't just want me to ask his advice. He wants me to fax over all the forms involved so that he can give me his opinion in a week, after he's looked through them. Because I am incapable of reading a contract on my own.
You should've seen how angry he was when I opened my own bank account on my 18th birthday.
And it's even more fun when it turns out that I made a spectacular financial decision after he's gone on a long, drawn-out rant about how I'm immature and going to ruin my life. Because it's immature to plan for my future without asking him about it first.
posted
Why is it such a big deal to decide right now which health insurance plan and company you'll use for the rest of your life? It's not like your sex; it's easy to switch if you're not happy.
I think you're making this much harder than it needs to be.
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posted
Also, once you get a job your employer will likely help pay for insurance. It's doubtful that it would be the same insurance you have right now, so you'd likely be switching anyways.
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posted
You mean, aside from the fact that my current health insurance sucks and doesn't cover...anything at all? I mean, to see ANYONE who isn't a clinic doctor, I have to get a clinic referral. But the clinic only has a doctor available from 9am-12pm, Monday through Friday. And it doesn't cover prescriptions. And even if I DO get a referral, there are usually only one or two doctors in the field covered by the plan.
I could go on and on about the supreme suckage of student health insurance.
Aside from the fact that I don't KNOW where I'll be working when I graduate, so how am I to know if there will be health insurance available for me? Plenty of small business don't offer health insurance. On top of that, what if I were to develop some horrible illness while in school? If I had to drop out of school, I wouldn't be eligible for student health insurance anymore.
On top of that, I doubt the plan I'm applying for costs all that much more than student health insurance, on top of the fact that it offers coverage outside of New Orleans and does not require me to visit the school clinic before I see a specialist.
posted
Not a one of those is a reason why you have to decide right now the plan and company you'll use for your whole life.
For the third time, it's not that difficult to switch.
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Boon
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And I still don't know what your "legal residence" has to do with it. When they ask for your address, tell them where you live, or tell them your parents' address, whichever gets you the best rates. I don't understand what the problem is...
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quote:Originally posted by El JT de Spang: Not a one of those is a reason why you have to decide right now the plan and company you'll use for your whole life.
For the third time, it's not that difficult to switch.
Um, again, when did I say I was going to use it for the rest of my life? I want better coverage NOW because I am going to be DONE WITH UNDERGRAD in ten weeks and done with grad school a year after that.
I don't see why you are getting all weird about the fact that I want better health insurance coverage.
The residency thing applies because, like I said, if you're a resident of a hurricane-affected area, the plans are different.
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'course, I also got a nice scholarship for undergrad. But yes, my parents and I have an agreement that they support me as long as I'm a full-time student.![[Frown]](frown.gif)
Plus, insurance is more expensive here, I believe.![[Razz]](tongue.gif)
But speaking of that, do you have to pay taxes on scholarship money? I mean, it's not like they write me a check.
