<p>I attend university out-of-state but have maintained my residency at my parents' address. Now they are moving. What will be my legal residence next year? Do I need to get a new drivers license - I recently renewed with my home state - since my address will change?</p>
<p>Also, my internship this summer has paid pretty well and I'm not sure whether my parents will be able to claim me as a dependent for tax purposes this year. My understanding is that half of my support needs to come from them, but I don't know what the IRS considers support. Will look into this.</p>
<p>Your residency status is not related to your tax filing status.</p>
<p>You attend college NOT in your parent state of residency, so for college purposes, this move should not affect you at all in terms of costs. </p>
<p>Because NO one in your family is residing in the old state once your parents move! I would think you would need to decide between your college state and their new place of residence regarding drivers license. If you are carried under your parent car insurance, your address and license might need to be in their state. </p>
<p>Support is all of your expenses, and who pays the bigger share: all college expenses (and rent/food/utilities if you live off campus), your car if you have one and all related expenses to that, your incidentals of food/clothing/fun money, your insurance and medical costs, etc. </p>
<p>They can claim you as a dependent if their share is larger than their share. Co-signed loans count for whichever side ends up claiming you on taxes. </p>
<p>Thanks. Guess I will no longer be claimed as a dependent.</p>
<p>I should have specified that tuition residency is not an issue here. I am OOS for tuition purposes (but on scholarship). Just trying to figure out the driver license, home address, voter registration, etc.</p>
<p>Have you considered all expenses in determining that your parents can no longer claim you as their dependent? Who pays for your health insurance/medical care?</p>
<p>Ah yes. Health insurance. You need to check to see if you can maintain coverage on your parent’s plan if you don’t have the same state of residence. It is very possible that if you establish residency in another state, that you will need to get your health insurance in that state as well. Check.</p>
<p>While our son was in college it became better tax wise for him to claim himself as a dependent instead of us doing it per our tax advisor- he had investment income from money we put in his name over the years. He was still on our insurance and could still claim instate residency. Your parents’ move speeds up the process of separating from the nest. Where will you live when school is not in session? If you maintain an apartment year round it is easy to change to that address. Voting would depend on the state. Wisconsin allows dorm residents to claim that as their legal home for voting (but then you can’t vote elsewhere and you won’t be able to prove residency at your parents’ address most likely).</p>
<p>Your parents should talk to their tax preparer if they have one also.</p>
<p>I pay for health insurance through the university plan. My parents have covered dental / optical up to this point. Not sure whether that will change next year. I will live wherever I find the best job opportunity next summer…preferably not where I am now for school, but that remains to be seen.</p>