Dependent

A person who relies on someone else for financial support. The taxpayer supporting the dependent is allowed to claim dependency exemptions.


This is generally known as people who are under 14 and over 65.



Don't Forget The Kids: Save for their Education and Retirement - Retirement and education financing are the two most important planning items for taxpayers.
Related Terms

Adoption Credit

Child Tax Credit

Exempt Income

Exemption

Head of Household

Kiddie Tax

Member of Household

Special Needs Child

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