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Can you claim your elderly parent as a dependent on your tax return?

Can you claim your elderly parent as a dependent on your tax return?

by Capocore Professonal Advisors | Mar 27, 2018 | Individual Tax Brief

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...
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Capocore Professional Advisors - 46 W. Shadbolt Ste A Lake Orion, Michigan 48362