<p>Yeah, but the government doesn't need the tax deduction as much as we do!</p>
<p>
[quote]
We were told by our tax "professional" as well as the academy(USMA) that even Plebe year we would not be able to claim our daughter as a dependent. It's not about the number of days they lived with you in a year, its the dollars you contributed to their support, and once they hit the academy, the dollars are really piled on by the government vs anything we could show.
[/quote]
</p>
<p>I recall getting the same information at the USNA parent session last year during our son's CVW.</p>
<p>Of course the government is going to tell you that they are not dependents anymore, they are the ones collecting the taxes! </p>
<p>I have had a tax attorney tell me something completely different, so seek professional assistance and follow your own conscience. We should not be telling others on this thread what is “right or wrong” as no one here knows each of our situations, leave that to the professionals. When it comes to taxes, blanket statements may not always be true.</p>
<p>
[quote]
Of course the government is going to tell you that they are not dependents anymore, they are the ones collecting the taxes! </p>
<p>I have had a tax attorney tell me something completely different, so seek professional assistance and follow your own conscience. We should not be telling others on this thread what is “right or wrong” as no one here knows each of our situations, leave that to the professionals. When it comes to taxes, blanket statements may not always be true.
[/quote]
</p>
<p>hmmm...</p>
<p>Please let me clarify something- no one is telling anyone what is "right or wrong" to do, least of all me. What we are doing is offering our individual experiences; the rest is up to you.</p>
<p>What I can share, and what I believe I did share, were two points. First, that the answer given to the parents during a Q&A session at USNA on this very subject suggested claiming your mid as a dependent beyond the first year was highly unlikely, and second, that a lot of very excellent material was posted on this subject back in January of this year. As that was prior to your arrival, and in the interests of helping others new to this site, I thought it might be helpful to suggest searching on the SA forum on the topic. I know one parent from the USCGA did a heck of a lot of research on this very topic last year, posted it all including sections of the tax law, and educated a lot of us. </p>
<p>Please keep in mind, no matter how you slice and dice it, unless you are the primary support (>60%) for your mid, claiming them as a dependent will be very difficult. As they are still under your household the first year, from January-June, you stand a chance of claiming them their plebe year. Beyond that, good luck. Considering the education at the USNA is now valued in the neighborhood of $350,000, that breaks down to roughly $80,000 per year, not counting the cost of medical care or the monthly paycheck they receive. I don't know about you, but I don't come anywhere near sending that to our mid, much as I love him and miss him!</p>
<p>I agree that one should consult "professional assistance" on what to do, and on that note, good luck with your tax attorney. Thank goodness I do not have to look too far- my husband has been a CPA for decades now, and in him I trust! ;)</p>
<p>BTW, if your kid goes to NAPS, they take the $2,500 out of their pay while they're in Newport, so the education is REALLY "free".</p>
<p>Word of advice to NAPSters: SAVE YOUR MONEY. I lived off my NAPS savings as a plebe. Made all the difference in the world when the next Tom Clancy novel or cool video game came out.</p>
<p>
[quote]
Yeah, but the government doesn't need the tax deduction as much as we do!
[/quote]
Preach it, brother!</p>