Video: Qualifying Dependents - Relatives

In this lesson, Nick Palazzolo, CPA, delves into the intricacies of identifying qualifying dependent relatives for tax purposes. He clarifies the criteria that must be met for various family members and dependents to be considered eligible for a taxpayer's claim, including the need for more than half-cost support, gross income restrictions, and special implications for multiple support agreements when there are joint contributors. Nick also describes exceptions, such as living arrangements for parents in nursing homes and how college students may still qualify even if not living at home. With numerous examples, from supporting an uncle who's a Canadian resident to determining who can claim a dependent when siblings share the financial responsibility, this lesson covers a gamut of scenarios helping to demystify dependent qualifications. Plus, Nick keeps the energy high with his engaging delivery to keep you motivated and on track.