Possibly, There might be times when you can claim a parent or another relative as a dependent.
- Unlike children, parents don't have to live with you at least half of the year to be claimed as dependents – they can qualify no matter where they live.
- They must have gross income (taxable income) of less than $4,700 for the year. This includes the taxable portion of these:
- Social Security (This may be tax free)
- Pensions
- Scholarships
- Unemployment
- All other taxable income
- You must have provided over half of your parent’s support for the year to claim them as a dependent under IRS rules.
- Calculate the fair market value of the room your parent occupies in your home.
- Ask yourself how much rent you could charge a tenant for the space.
- Consider the cost of food that you provide.
- Remember to include utilities, medical bills and general living expenses that you also pay.
- Compare the value of support you provide with any income, including Social Security, that your parent receives to determine whether you meet the support requirements.
- Your parent or relative must be one of these:
- U.S. citizen
- U.S. resident
- U.S. national
- Resident of Canada or Mexico
- The potential dependent must be one of these:
- Your parent, ancestor (ex: grandparent, great-grandparent), or sibling of either of them
- Stepsibling, stepparent, parent-in-law, son- or daughter-in-law, or brother- or sister-in-law
- Any person that lived with you for the entire year as a member of your household
Please contact us again with any additional questions.
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