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By consulting with your tax advisor, you will determine who qualifies as a dependent and learn the benefits of claiming a dependent. For starters, for each eligible dependent child, you will ...
Having trouble deciding if your Uncle Jack, Grandma Betty or daughter Joan qualifies as a dependent? Here's a cheat sheet to quickly assess which of your family members you can claim on your tax ...
Many people are surprised to learn that you can claim most anyone on your taxes as a dependent. It's true. Even if you aren't related, someone who lives with you for most of the year and who you're...
The IRS defines two types of people that you can claim as a dependent on your taxes: “qualifying children” and “qualifying relative.” A qualifying child does include anyone who is your ...
That said, once you reach full retirement age, it pays to claim spousal benefits right away. Social Security allows claimants filing for benefits on their own earnings record to accrue delayed ...
The general rule is that a personal exemption may be taken for a dependent that is either a qualifying child or a qualifying relative. § 152(a). However, there are several exceptions to this rule. Taxpayers who are claimed as dependents of others cannot themselves claim personal exemptions for their qualifying dependents. § 152(b)(1).
Image source: Getty Images. 1. When your spouse claims benefits can matter a lot. It's no secret that one spouse can claim Social Security retirement benefits based on the other spouse's earnings ...
To claim a child on taxes as a non-custodial parent, you need to complete and submit Form 8332, signed by the custodial parent, granting you the right to claim the child as a dependent. Can both ...