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Exemption amount. The amount you can de duct for each exemption has increased* It was 4 000 for 2015. It is 4 050 for 2016. Exemption phaseout. You lose at least part of the benefit of your exemptions if your adjusted gross income is above a certain amount. For 2016 the phaseout begins at 155 650 for mar ried individuals filing separate returns 259 400 for single individuals 285 350 for heads of household and 311 300 for married individuals filing joint returns or qualifying widow er s. See Pha ...

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What is a qualifying person for head of household IRS?

To file as head of household you must furnish over one-half of the cost of maintaining the household for you and a qualifying person. Therefore, only one of the parents will have contributed more than one-half of the cost of maintaining the household and be eligible to file as head of household.

Can I claim head of household without a dependent?

Generally, to qualify for head of household filing status, you must have a qualifying child or a dependent. However, a custodial parent may be eligible to claim head of household filing status based on a child even if he or she released a claim to exemption for the child.

Can I claim an adult as a dependent?

For an adult (anyone 17 or older) to be claimed as a dependent, they must live with you or have a close relationship with you. \u201cClose relationships\u201d can include parents, grandparents, siblings, half- and step-siblings, aunts and uncles, nieces and nephews, in-laws, and some others.

How much does standard deduction reduce taxes?

Standard Tax Deduction: How Much It Is in 2021-2022 and When to Take It. The 2021 standard deduction is $12,550 for single filers, $25,100 for joint filers or $18,800 for heads of household.

Who are the two types of qualifying individuals who can be dependents?

You can have two types of dependents: qualifying children and qualifying relatives.

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What does head of household with qualifying person mean?

Qualifying Person for Head of Household. A Qualifying Person is someone who qualifies you to file as Head of Household if they lived with you in your home for more than half the year, not counting temporary absences. Your parent, however, does not have to live with you to be a Qualifying Person.

Who is a qualifying dependent?

The IRS defines a dependent as a qualifying child (under age 19 or under 24 if a full-time student, or any age if permanently and totally disabled) or a qualifying relative. A qualifying dependent can have income but cannot provide more than half of their own annual support.

Can I claim my wife as a dependent if she doesn't work?

You do not claim a spouse as a dependent. When you are married and living together, you can only file a tax return as either Married Filing Jointly or Married Filing Separately. You would want to file as MFJ even if one spouse has little or no income.

What is a qualifying person for head of household?

There are three key requirements to qualify as a head of household: You are unmarried, recently divorced or legally separated from a spouse. That means you must have lived in a residence apart from your spouse for at least the last six months of the year.

Can I claim my wife as a dependent if she is a stay at home mom?

No, you can't. A spouse can never be your dependent.

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What is a qualifying person for head of household IRS?

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What does head of household with qualifying person mean?

Who is a qualifying dependent?

Can I claim my wife as a dependent if she doesn't work?

What is a qualifying person for head of household?

Can I claim my wife as a dependent if she is a stay at home mom?

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Get the up-to-date publication 501 2016 form-2024 now

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See more publication 501 2016 form versions

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Got questions?

What is a qualifying person for head of household IRS?

Can I claim head of household without a dependent?

Can I claim an adult as a dependent?

How much does standard deduction reduce taxes?

Who are the two types of qualifying individuals who can be dependents?

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People also ask

What does head of household with qualifying person mean?

Who is a qualifying dependent?

Can I claim my wife as a dependent if she doesn't work?

What is a qualifying person for head of household?

Can I claim my wife as a dependent if she is a stay at home mom?

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