When do you loose the benefit for claiming your college kids as dependents when doing your taxes? I read online that it was if you have a combined income above $140K. I then read somewhere else that you loose it if you have a combined income above $400K.

No idea, but it’s not like they are a huge benefit during their school years either, or at least not in our situation. We got to claim a whopping $600 for childcare, that’s not even a full 2 weeks of childcare

to capitalize you need to do (daycare, summer camp, select sports etc) through a FSA program. preferably through the city plan. If you try to do it through real estate IRS might kick you out /limit for unfair high wage earner advantage. Even then they will most likely limit you to $3200, vs 6400. But if your wife does 3200 also.,. you end up with full value.

atleast its the way it was described to me. I was doing full in mine until IRS cut, so i had to mske sure wife was doing her also

“The credit begins to phase out when the taxpayer's income is more than $200,000. This phaseout begins for married couples filing a joint tax return at $400,000.”

IRS link

Single income family here so the numbers are different but there is an age limit I'm approaching with my oldest (professional student), not just income. Sucks because she moved back home to save money so she's still making a financial impact at home.

I have not claimed any dependents for several years so I have not kept up with the IRS rules but I thought there is now a credit that is different then the dependent deduction.

I have no idea what you’re talking about. Please rephrase in Cop terms