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Categories: General Tax Terms

Dependent

In the context of taxation, a dependent is an individual who relies on another taxpayer for financial support and can be claimed on the taxpayer’s tax return to potentially reduce taxable income.

To qualify as a dependent, the individual must meet certain criteria defined by the IRS, which generally includes being a child, relative, or qualifying relative of the taxpayer, and fulfilling specific requirements related to age, residency, and financial support. For example, a child under the age of 19 who lives with the taxpayer and does not provide more than half of their own support may qualify as a dependent.

Claiming a dependent can lead to various tax benefits, including the Child Tax Credit or the Earned Income Tax Credit, which can significantly affect a taxpayer’s overall tax liability.

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