Re: Tax/Insurance problem - Too much $ to be a dependent
"In order for my parents to declare me as a dependent, my personal income must be less than the amount my parents pay for my annual living expenses. An outside source is helping aid my college tuition as well. This money unfortunately counts as a personal income of mine, and means my parents would need to spend even more money on me in order to claim me as a dependent."
I believe the test you are talking about is the support test and the gross income test for dependency. Since you are under 24 and a full time student the gross income test does not apply. For support your parents need to supply 1/2 (plus 1 cent) of the total support for you to claim you as a dependent.
Under those guidelines you might be able to swing it. I'd say give a CPA that focuses on taxes a call and for $125-$250 you should be able to get a better answer. I don't know the definition of "support" in this respect so some other CPA (I don't specialize in taxes) would probably be able to define that and might be able keep you as a dependent which your parents would LOVE.
Good luck, there is some hope.
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