Asked by Samantha Ortiz on Jun 10, 2024
Verified
Even though the taxpayer is claimed as a dependent on another tax return,he or she can still receive an exemption amount for himself or herself when filing his or her tax return.
Dependent
An individual, usually a child or spouse, who relies on another person for financial support and qualifies for certain tax benefits.
Exemption Amount
The portion of an individual's or entity's income that is not subject to tax, reducing taxable income.
Tax Return
The form or forms used to report income and file income taxes with tax authorities, including information on income earned, deductions, and credits claimed.
- Comprehend the criteria and benefits related to dependency exemptions and personal exemptions.
Verified Answer
ZM
Zwothe MagwaraJun 10, 2024
Final Answer :
False
Explanation :
A taxpayer claimed as a dependent on someone else's tax return cannot claim a personal exemption for themselves on their own tax return.
Learning Objectives
- Comprehend the criteria and benefits related to dependency exemptions and personal exemptions.