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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 ...
Come tax time, you want to claim as many deductions as possible on your return to lessen your tax burden. And that includes accounting for all the dependents you're entitled to claim. Read: 3 Ways...
Despite attempts by the IRS to clarify who qualifies as a dependent, today's complex living arrangements often raise questions about who can be claimed. The Dirty Dozen: 12 tricky tax dependent ...
Other than a father or mother, the following types of relationships may qualify a dependent as a qualifying person for head of household purposes: [8] Child, stepchild, foster child, or a descendant of any of them. (A legally adopted child is considered a child.) Brother, sister, half-brother, half-sister, stepbrother, stepsister
Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations.
This form allows the custodial parent to release their claim to the child as a dependent, granting the non-custodial parent the ability to claim the child. Tax Benefits for Parents Claiming ...
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