This seems like it should be simple (maybe i'm overthinking the situation) so any advice would be great.
My son is 19 and lives with us full time. He works part time and is not a full time student. He made about $19,000 in 2018 (net of about $14,000). He does pay for his own food, clothes, phone, etc. but does not pay rent. Instead he maxed out a Roth IRA and also puts $ into a taxable account.
If I were to claim him, it's only a $500 credit, right? Because technically we probably do support him >50%.
I think he would be better filing single w/out being claimed as a dependent and then I think he would be able to claim the savers credit.
If I do charge him rent is that something I would have to claim as income? I don't want this to get too complicated, but at the same time I want to help my son as much as possible which is why I had him start investing as soon as he got a job last year.
Thanks.