Magda maintains a household that includes a son (age 30) and a cousin (age 28). She...
Magda maintains a household that includes a son (age 30) and a cousin (age 28). She can claim the cousin as a dependent but not her son. Explain. please answer in your own words.
Homework Answers
To claim child as dependent the qualifying child test must be met. As per this test, child must be younger than tax payer and either younger than 19 years old or be a “student” younger than 24 years olds of the end of the calendar year. Hence son (age 30) cannot be claimed as dependent
To claim cousin as dependent the qualifying relative test must be met. As per this test relative can be claimed as dependent by tax payer if considerable financial support is provided for the qualifying relative during the tax year.
4 conditions have to be met for classifying as qualifying relative
· Qualifying relative must not be qualifying child of taxpayer
· Qualifying relative must live in the taxpayer’s household all year
· Qualifying relative must have a gross income less than threshold defined
· Qualifying relative must have received more than half of their financial support for the year from the tax payer.
Hence cousin (age 28) can be claimed as dependent based on above test.
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