If a student makes that much money he is required to file a tax return.
As I wrote before:
If your student is required to file their own return, you can still claim them as a dependent, but you won’t be able to claim their income on your return. This should not affect what you can and can’t claim for college expenses.
If the student uses that money to pay for more than 1/2 of their support, they are required to file independently. They are no longer considered dependents therefore the parents would not be allowed to claim the student on their tax returns.
It would be hard for anyone to claim they are not supporting themselves if they are making $50K a year.
They would file independently and claim the education credit/deduction on their own tax returns.
[Post edited by techer1983 at 07/01/2021 11:08PM]
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In response to this post by RJHokie)
Posted: 07/01/2021 at 10:54PM