Education is NOT filling a Basket but LIGHTING the Fire.
One must pass the following test in order to meet the Qualifying Child test
1) Relationship Test
2) Abode test
3) Support Test
4) Age Test
In order to meet the requirement of Qualifying Dependent, one must meet the following test
1) Relationship Test (Not a Qualifying Test)
2) Support Test
3) Citizenship Test
4) Joint Filing Test
5) Gross Income Test
Note: Relationship and Support Tests are applicable in both scenarios.
Disclaimer: This information may be general in nature and my advice is for you to consult your Financial Adviser, your accountant or your attorney for your specific situation. Also laws may vary from state to state
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As you can see, I am not being detailed in my postings. It is a deliberate act on my part. I am a strong believer of a two way communications. By engaging ourselves in a two way communication there is a high possibility that we can learn something new from each other. As such, you should feel free to comment on my postings or give me any feedback which should not only be limited to compliments. Pointing out my shortcomings or ineptness will be greatly appreciated!!!!!!!!!!