How Can I Claim People As My Tax Dependent, And Who Can I Do It With? – Tax Deductions
Here are the ways to claim people as your tax dependent. In case you weren’t informed, you could be able to have even your friends be claimed as tax dependents. You can also claim family members who are away, even that struggling cousin who is going through college and feels close to you.
According to a published post by Marca, there’s no need to keep worrying about dependency tax laws. This is something people have been questioning for many years a lot of taxpayers. It is also a field in which tax deductions and credits can usually be misunderstood or missed on tax returns.
In case you had no idea, you could be able to claim your friends even as tax dependents. (Photo: Marca)
Who Can I Claim As My Tax Dependent, And How Can I Do It?
With the current tax reform, Citizens can no longer claim the dependent exemption, which was $4,050 for the tax year 2017. However, you still need to know who is eligible as a dependent for other tax benefits such as Child Tax Credit which goes up to $3,000 per eligible child over 6 and up to $3,600 for each eligible child under 6.
Moreover, tax credit dependents Children who aren’t yours. It is important to understand how these rules work to receive the highest benefit from them for your closest loved ones. There are five different types of people one can claim as tax dependent. The 1st category is a relationship, which is a child, adopted child, foster child, brother, sister, niece/nephew, or grandchild.
The second one is residence, this only means your tax dependent must have the same residence for more than half a year and they aren’t necessarily required to be blood-related to you. Next is age, This includes people under the age of 19 or under 24 who is a full-time students. They are also allowed to be at any age if they are totally or permanently disabled.
Additionally, we have support, This includes Citizens who must not have provided more than half of their support during the year. Lastly, we have joint support, This includes Citizens who cannot file a joint return for the year.
Four tests will make a relative eligible as a dependent. This includes those who are not qualified children, gross income, total support, and those who are members of a household or relationship.
READ ALSO: Tax Return: 13% Of Property Tax Will Be Sent To Residents In Richmond
