Tax Expert Provides the Inside Scoop on Claiming Dependents
By: Discover it Online
First, Ellis lists the various qualifying child requirements. The child can be adopted, a step child, or foster child; they can also be a sibling or the child's descendent. Age requirements are mentioned and so are living requirements. The author also says at least 50% of the dependent's support must be provided by the taxpayer in order for them to be claimed. Also, the dependent being claimed cannot file a joint return on their own.
Qualified relative requirements are listed next. First this person cannot already be claimed as a dependent by someone. They must be related, or live with the taxpayer claiming them for at least a year. Gross income thresholds and levels of support matter as well. Ellis provides a little insight into that.
Next, the author provides several common questions and answers about claiming dependents. These cover topics such as a dependent having to file taxes, if a taxpayer's partner and kids live with them, and whether dependents have anything to do with claiming the earned income tax credit (https://claimtheearnedincomecredit.com/
Read more about whether someone can be claimed as a dependent and see answers to common questions about this subject at, https://discoverit.typepad.com/
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 900 articles on leading financial websites.