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If your parents earn more than the allowable gross income for the tax year in question ($4,700 per parent in 2023), then they would not be eligible to be claimed as a dependent by anyone else.
A parent cannot claim both for the same dependent child (or a student can claim it) on a return for the same year, but if there are multiple dependents on the return they could be using either of ...
The IRS defines two types of people that you can claim as a dependent on your taxes: “qualifying children” and “qualifying relatives.” ... Parents, stepparents, grandparents or other ...
Again, parents can’t divide their claim to a dependent for tax purposes. Instead, the IRS applies a tiebreaker rule and gives the right to claim the dependent to the parent who has the child longer.
This still remains the parent's choice. Provided the parent has lived with the child for at least six months and one day, the parent can always choose to claim his or her child for purposes of the earned income credit. In a tiebreaker situation between two unmarried parents, the tiebreak goes to the parent who lived with the child for the longest.
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).
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 ...
Form W-4 (officially, the "Employee's Withholding Allowance Certificate") [1] is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of federal tax to withhold from an employee ...
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