Larry and Louise are both 49 years of age and file a joint return. They provide all of the support for their son, Dylan, who is 20 years old and is at home until he gets called into the army. His income at part-time jobs is $3,900. Their daughter, Phyllis, is a 23-year-old full-time student at State University. She lived at school 9 months and provided two thirds of her own support with a summer job. How many personal and dependency exemptions can Larry and Louise claim on their income tax return?

Question

Quizplus · Accepted Answer

Larry and Louise can claim two exemptions: one for themselves and one for their son, Dylan, as he qualifies as a dependent. Phyllis does not qualify as a dependent because she provided more than half of her own support.

Larry and Louise Are Both 49 Years of Age and File