Amended Tax Return

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  • POCAHONTAS
    Senior Member
    • Jan 2008
    • 236

    #16
    what if the parents were co-signers of the loan then that would also make them liable correct? and would that then count as support?

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    • Burke
      Senior Member
      • Jan 2008
      • 7068

      #17
      It makes them liable, but it would only count as support if payments were actually made on those loans for the tax year in question, and it would be attributable to whoever made them.

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      • joanmcq
        Senior Member
        • Jun 2007
        • 1729

        #18
        I couldn't take a dependency exemption once the loans were factored in, and in this case the clients lived together. No dependency, no credit.

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