What is the income cap for claiming a dependent?
February 18, 2004
Subject: Tax question
From: Anonymous
Date: Wed, 28 Jan 2004
Hi. I was looking through your website it was very helpful.
What are the income requirements if someone else (not a parent) is going to claim me as a dependent? Is it based on my W-2 income? Does that person have to bring my W-2 to his or her tax return preparer?: Do I have to go to the tax return preparer with that person?
Thanks.
Answer
Date: Mon, 02 Feb 2004
Hello,
The gross income for dependents other than student dependent children must be less than $3,050 for to qualify as a dependent for 2003. Gross income includes taxable income from all sources, not just W-2 income. Most income tax return preparers do not require having the dependent's Form W-2 to claim that person as a dependent. You do not have to be present at the interview. Your name and social security number will be reported on the tax return of the person who claims you as a dependent.
Remember that other requirements must be met in order to qualify as a dependent.
Good luck!
Mike Gray
For answers to new questions, subscribe to our newsletter, Michael Gray, CPA's Tax & Business Insight by filling out the form below.
Home Newsletter Archive Introducing Michael Gray, CPA Articles Tax FAQ Need Help? Other Links
Find us on Facebook
Follow me on Twitter
Connect on LinkedIn
Connect on Google+
Our Blog