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Daily Archives: March 28, 2018

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Can You Claim Your Elderly Parent As A Dependent On Your Tax Return?

TaxBy mchoeMarch 28, 2018

Perhaps. It depends on several factors, such as your parent’s income and how much financial support you provided. If you qualify for the adult-dependent exemption on your 2017 income tax return, you can deduct up to $4,050 per qualifying adult dependent. However, for 2018, under the Tax Cuts and Jobs Act, the dependency exemption is…

King & Godbold CPA
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