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Having trouble deciding if your Uncle Jack, Grandma Betty or daughter Joan qualifies as a dependent? Here's a cheat sheet to quickly assess which of your family members you can claim on your tax ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
The IRS defines two types of people that you can claim as a dependent on your taxes: “qualifying children” and “qualifying relative.” A qualifying child does include anyone who is your ...
Form 1040-X (officially, the "Amended U.S. Individual Tax Return") is used to make corrections on Form 1040, Form 1040A, and Form 1040EZ tax returns that have been previously filed (note: forms 1040-A and 1040-EZ were discontinued starting with tax year 2018, but a 1040X may still be filed amending one of these tax forms filed for previous years).
A child cannot qualify as a dependent on more than one tax return, so the code has a set of rules to prevent this from happening. § 152(c)(4). The code first attempts to break the tie by limiting eligible taxpayers to the child's parents, followed by the contending non-parental taxpayer with the highest adjusted gross income. Id.
Many people are surprised to learn that you can claim most anyone on your taxes as a dependent. It's true. Even if you aren't related, someone who lives with you for most of the year and who you're...