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Deductions & credits
@RK06 wrote:
I have to admit I don't understand the emancipation rule. If they live with me full time when they aren't in school, and in 2020 it was for over 58% due to covid and college being closed, and they aren't paying for more than 50% of their support, how are they "emancipated"?
Emancipated simply means, no longer under the legal control of their parents. Below the age of emancipation, children are considered legally incompetent to enter into binding contracts and handle their own affairs. Minor children may be unable to consent to medical procedures, get married, or do other things that require permission of a parent or guardian. Emancipation means they are of legal age and can make contracts, make medical decisions for themselves, and so on. It's about legal independence, not financial independence.