A common question about taxes and the IRS is if a person can claim their parents as dependents. In this post, we answer this question and provide some useful facts you need to know.
What Is a Dependent?
A dependent is a person other than yourself or your spouse who depends on your income and qualifies you to claim a dependency exemption.
This means that when you claim someone as a dependent on your tax return, you can get some deductions that lower your tax bill or may even entitle you to redeem a credit for a tax return.
The basic rule for dependents is that you can only claim as a dependent a person who is either a qualifying child or a qualifying relative.
In the next section, we’ll see what this means if you want to claim your parents as dependents.
Can I Claim My Parents as Dependents?
With that being said, can you claim your parents as dependents?
The answer is yes. According to the IRS, some common examples of dependents include a child, stepchild, brother, sister, or parent.
If you are planning to claim your parents as dependents,there are some rules to remember.
First off, the gross income of each parent must be less than $4,300 and you must provide half of the person’s total support for the year.
Finally, you can’t claim as dependent a person who can be claimed as a dependent on someone else’s tax return.
So for example, if one of your brothers or sisters has already claimed your parents as dependents, you cannot claim them as dependents on your tax return.
If you’re still not sure if you can claim your parents as dependents, use the IRS online assistant Whom May I Claim as a Dependent? (just click on the link to open the assistant).
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