If you have children in college, it is important that their and your returns are done to save you as a family, the most money. Who claims the child’s exemption, can cause a big difference in total taxes paid. Education Deductions and Credits generally follow the child's exemption. The parent’s tax rate will usually be higher, meaning that they will benefit more by claiming the exemption. Full time students under 24 can generally be claimed by their parents.
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