Ronald is 92 years old and in poor health.Clever investing earlier in his life has left him with a sizeable income.He is able to support his son Ed.Ed is 67 years old and a bit "confused," so he lives in a nursing home.Ed's income is less than $2,000.How many exemptions should Ronald claim on his tax return?

Question

Quizplus · Accepted Answer

Ronald can claim himself and his son Ed as dependents, as Ed's income is less than $4,300 (2023 threshold) and he lives in a nursing home, indicating Ronald provides more than half of Ed's support.

Ronald Is 92 Years Old and in Poor Health