You might believe a “dependent” is a minor child who lives with you. While that is essentially correct, dependents can include parents, other relatives and nonrelatives, and even children who don’t live with you. Here’s an overview of the dependency exemption. Exemptions and your taxable income. Each dependent deduction is worth $4,000 on your 2015 federal income tax return, and...

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For any number of reasons, you could find yourself opening your home to relatives in need. In some cases, the guests could become fairly permanent occupants. Who can be claimed as a dependent at tax filing time? Suppose that your nephew and his six-year old daughter lived with you for nine months during the current year. Can you claim them...

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Most taxpayers believe that a “dependent” is a minor child that lives with them. While that is essentially correct, dependents can include children and parents, other relatives and nonrelatives, and even children who don’t live with you. There is really much more to the dependent deduction than you might at first imagine. * Exemptions and your taxable income. For 2013,...

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