Dependency Exemption

For this , we need to find out if how many dependency exemptions the McKeevers could exact on their Federal Income Tax for the year 2007 To be suitable to do this , we need to analyze the facts and follow certain guidelines in the IRS booklet 1040 which is available online at HYPERLINK http / web .irs .gov www .irs .gov . Using the guidelines on Exemptions for Dependents written in this booklet , we gouge analyze the facts and make conclusions out of it depression , we need to know the common facts . Pat and Cathy McKeever are filing for a vocalize bring forth . There are four possible dependency exemptions for them . First two are Cathy s parents , who are living in an apartment that they rent from the McKeevers . Next is their daughter Eileen who lives with them . Last is Tim who also lives with themAfter wise(p) the general facts of their bloodsuckings , we try to generalize a way of checking whether a particular dependent is entitled for an exemption . According to IRS-1040 , a appraisepayer is entitled to a dependent exemption if his or her dependent meets all the requirements of the avocation tests (1 ) mountain pass Child or Qualifying Relative running play (2 ) Dependent of another Taxpayer streak (3 ) cor comparative Return Test , and (4 ) Citizenship TestFor the first test , a dependent will be checked if he or she is a alteration churl or a offer relative . If he or she doesn t meet the requirements for a qualifying tiddler , he or she could still meet the requirements for a qualifying relativeA psyche would be a qualifying child if he or she meets the following requirements : Relationship Test , Age Test , Residency Test , and Support Test . A qualifying child could be the taxpayer s child by birth grandchild , tempo child , adopted child , foster child , sis or brother or descendant of any of them (nephew , niece , etc .

This person should be single on the last daylight of the tax year , or married on the last day of the tax year but a citizen of the United States or a resident of the United States , Canada , or Mexico and didn t for a joint return with the spouse . This person should be under 19 old age old or under 24 years old but a plentiful time student or any age but must be permanently disabled . This person should comport lived with the taxpayer for more than 6 months of the tax year . And lastly , this person should not have supplied more than half of his or her support for the yearA person would be a qualifying relative if he or she meets the following requirements : Not a qualifying child , Relative or Member of the Household , Gross Income Test , and Support Test . This person should not have qualified for the qualifying child test . This person must either be a member of the household for the whole tax year or must be a relative of the taxpayer , i .e . child (by birth , adoption , etc , parent...If you want to get a full essay, order it on our website: Ordercustompaper.com

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