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Ok I'm not a lawyer, but here is my personal experience.
Once you are claimed as a dependent you give up your right to the "eductional credits." I use turbo tax and it refused to let me use the educational credits because I had already claimed my status a "dependent." It sucks because both my mom and I pay for my schooling, but she gets the benefits.
I haven't filed for this year yet, but it is m first year paying for school completely on my own. I don't think I get the educational credits though because my parents will probably still claim me as a dependent since I lived under their roof in 2009.
I'm pretty sure that since your parents are claiming you then they get to claim your educational expenses. But don't take my word for it! I'm not a tax advisor! I'm just going off of what Turbo Tax told me when I tried to enter my education expenses last week.
My parents got all benefits from my student loans while they claimed me as a dependent. It ended up making a bigger difference on their tax return than it would have on mine anyway.
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Help Legal Genius Hive Members, HELP:
My parents claim me as a dependent. Can they claim my educational expenses, even though I pay them? Can I claim them if they don't?
Thanks a bunch!