dependency exemption
- A deduction permitted for each qualifying dependent according to the tax regulations, particularly sections 151 and 152 of the Internal Revenue Code
- Even though she is 18, her parents can still claim the dependency exemption because she is a full-time student.
- Claiming a dependency exemption can reduce the amount you owe in income taxes.
- In order to claim the dependency exemption, the taxpayer must prove that they provide more than half of the dependent's support.
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