Business and Personal Finance Dictionary

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• DEPENDENT
  
  A person who relies on someone else for financial support, usually includes a lawful spouse and unmarried children, adopted, step, foster or biological, up to a certain age. If you have dependents, you can claim them as exemptions, which will reduce the amount of your income that is taxed. To qualify as a dependent, the person must meet all five of the following tests, which are discussed separately here in the glossary: 1. Relationship or member of household test 2. Citizenship test 3. Joint return test 4. Gross income test 5. Support test
  
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