If you claim independant on your levy returns do you lose your parents robustness insurance?
I am 21 years old and still a student in college.
Answers:
Yes. To be covered by your parent health insurance you must be a dependent on their charge return. You lose that and it will cost you minimum 5k a year to replace it.
In MOST cases you have to still be their dependent...and likelihood are that they still provide more than half of your support and can legally still claim you as a dependent...designation that you cannot (or shall I say should not) claim your own exemption....in most cases you will still obtain the same amount of refund , however screw them out of anywhere from a coupe hundred to a couple thousand dollars....they support you all year... the least you can do is permit them take the credit.
That would depend on the expressions of their policy not what someone on YA says.
Related Questions:
Answers:
Yes. To be covered by your parent health insurance you must be a dependent on their charge return. You lose that and it will cost you minimum 5k a year to replace it.
In MOST cases you have to still be their dependent...and likelihood are that they still provide more than half of your support and can legally still claim you as a dependent...designation that you cannot (or shall I say should not) claim your own exemption....in most cases you will still obtain the same amount of refund , however screw them out of anywhere from a coupe hundred to a couple thousand dollars....they support you all year... the least you can do is permit them take the credit.
That would depend on the expressions of their policy not what someone on YA says.
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