What Are Dependents TurboTax Tax Tip Video

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https://turbotax.intuit.com What Are Dependents? If you financially support a child, a parent, a relative or even a friend, you may be able to claim them as a dependent on your taxes and take an exemption. Who qualifies as a dependent? Learn more about tax dependent qualifications in this TurboTax tax tip video. • Note: Beginning in 2018, exemptions are no longer claimed for dependents. Instead, the child tax credit or the dependent credit is available for those who qualify. • TurboTax Home: https://turbotax.intuit.com • TurboTax Support: https://ttlc.intuit.com/ • TurboTax Blog: http://blog.turbotax.intuit.com • TurboTax X: / turbotax • TurboTax Facebook: / turbotax • TurboTax Pinterest: / turbotax • TurboTax Tumblr: / turbotax • ~~~~~~~~ • Video transcript: • Hi, I'm Amir from TurboTax with some information to help explain what a dependent is in regards to taxes. • If you financially support a child, a parent, a relative or even a friend, you may be able to claim them as a dependent on your taxes and take an exemption. Who qualifies as a dependent? Ask yourself a few simple questions: • Is your child: under the age of 19? Have they lived with you for over half of the year and received at least half of their financial support from you? If you answered yes to all of the above, you can claim them as a dependent. Stepchildren, foster children and even your younger siblings can qualify as well. • Is your qualifying child in college and under the age of 24? Then you can claim them as a dependent. • Is there anyone else who relies on you for more than half of their financial support and lives with you for the entire year? You likely can claim these people as dependents as well, regardless of age. • Some relatives, such as your parents, may not even need to live with you to qualify as your dependent, but all of them must receive minimal income each year aside from Social Security checks. • For more information about this and other tax topics, visit TurboTax.com.

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