Term
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Definition
Two Year's After Spouse Death
Pricipal Residence for Dependent child whole year |
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Term
| Head of Household - qualifications |
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Definition
Single, legally separated, married living separate for last 6 mths of year
A dependent Child - 1/2 year resident
Parent - no residency requirement
Dependent Relative - no cousins or foster parents |
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Term
| Personal Exemption amounts |
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Definition
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Term
| Dependency Exemptions - Qualifying Child |
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Definition
CARES
Close Relative
Age - 19/24
Resident with 1/2 year
Eliminate Gross Income Test
Supports less than 1/2 self |
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Term
Dependency Exemptions:
Qualifying Relative/Other |
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Definition
SUPORTS
Support over 50%
Under exemption amount for gross income
Precludes Dependent filing joint
only citizens or residents of us, mexico, canada
relative - resident with 1/2 year, cousins & foster parents whole year
Taxpayer lives with (non-relative) whole year. |
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Term
| Basis of Taxable and nontaxable events |
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Definition
Taxable - FMV
NonTaxable - NBV |
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