How parents can claim their college-bound child on tax returns

As college-bound students prepare to leave home each fall, parents often ask us if they should continue to claim their now-adult child as a dependent or allow them to file their own return and claim themselves.

The rules for this are confusing, which is why dependency questions come up so frequently. My standard answer is that it depends, and I suggest they speak with their tax preparer. While each family is unique, here’s a quick analysis to help parents make the right decision for their family.