{"id":7560,"date":"2022-03-03T15:00:56","date_gmt":"2022-03-03T20:00:56","guid":{"rendered":"https:\/\/www.realtyhop.com\/blog\/?p=7560"},"modified":"2022-03-04T14:52:30","modified_gmt":"2022-03-04T19:52:30","slug":"claiming-an-adult-dependent","status":"publish","type":"post","link":"https:\/\/www.realtyhop.com\/blog\/claiming-an-adult-dependent\/","title":{"rendered":"Everything You Need to Know About Claiming an Adult Dependent on Your Taxes"},"content":{"rendered":"

There are many different ways you can potentially reduce your current tax obligations. One of the most common methods to lower a tax bill is to claim someone as a dependent. Depending on your current financial situation, claiming someone as a dependent can potentially reduce your current tax burden by thousands of dollars per year.<\/span><\/p>\n

It’s important to know that dependents come in many different forms\u2014there are plenty of people who might qualify as a dependent other than your children. In fact, millions of American households will claim an “adult dependent” on their taxes every year. However, to correctly claim anyone as a dependent while filing your taxes, you will first need to make sure they actually qualify.<\/span><\/p>\n

Whether you have personally filed your taxes before or not, you probably have a lot of questions. Below, we will discuss the most important things to know about claiming an adult dependent. We will also discuss how to claim a dependent, in general. By taking the time to understand this process, you can potentially minimize your tax obligations and avoid some common filing mistakes.<\/span><\/p>\n

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Who Can I Claim as a Dependent?<\/span><\/h2>\n

The Internal Revenue Service (IRS) has developed specific guidelines for who can legally qualify as a dependent, though most tax lawyers believe this definition is likely to change by 2025. Keeping this in mind, the IRS’s current definition of a dependent is someone “other than the taxpayer or spouse” who qualifies for a dependence exemption. In other words, the definition is currently pretty vague.<\/span><\/p>\n

Generally speaking, a dependent is someone who depends on you for financial support. A dependent is not a roommate or someone you happen to be living with unless you are also the primary source of financial support for this person.<\/span><\/p>\n

Of course, whether you are truly a source of financial support can often be up for interpretation (a teenager with a summer job can likely be claimed as a dependent, whereas someone you simply gave some money to probably doesn’t qualify as a dependent). For someone to be claimed as a dependent\u2014regardless of age\u2014you’ll need:<\/span><\/p>\n