I am about $5K above median, or at least I was, but my 19 year old son moved out recently and I haven't filed yet. I will now be about $12K above median if I lose him as a dependent. I'm wondering how much this changes my situation. My personal expenses haven't changed much since he moved out, so I'm still "passing" the means test with flying colors. In other words, not a good thing, because I am spending every penny I make and more and still trying to balance the budget. I am paying for local college for my 19 year old and other expenses (like insurance), but he does not actually live with me.
Questions:
1) If I am still "flunking" the means test, does my income relative to median really mean anything anyway? I take it to mean that I have to prove that the presumption of abuse does not exist, rather than just assume it.
2) Is my 19 year old still part of the household? I'm going with yes and assuming if he had "gone away" to college, filers would be counting that as a dependent.
Just wondering if anyone has any ideas or opinions...I am, as I have mentioned before, filing a chapter 7 per my attorney's advice.
Thanks,
Lefty
Questions:
1) If I am still "flunking" the means test, does my income relative to median really mean anything anyway? I take it to mean that I have to prove that the presumption of abuse does not exist, rather than just assume it.
2) Is my 19 year old still part of the household? I'm going with yes and assuming if he had "gone away" to college, filers would be counting that as a dependent.
Just wondering if anyone has any ideas or opinions...I am, as I have mentioned before, filing a chapter 7 per my attorney's advice.
Thanks,
Lefty

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