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Old 02-26-2017, 08:02 PM
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Gross or Net Income

A 25 yrs old individual that had only net business income of less than $4050.00 in 2016, can that person be claimed on his parents tax if the parents can prove they supported him more than 50% and that he lived with them the entire year.



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Old 02-27-2017, 10:43 AM
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Originally Posted by minim84 View Post
A 25 yrs old individual that had only net business income of less than $4050.00 in 2016, can that person be claimed on his parents tax if the parents can prove they supported him more than 50% and that he lived with them the entire year.
No UNLESS his gross income is less than $ 4,050 for 2016.I mean say his gross income fro his biz is LESS than $4,050 then he can be claimed as a dependent, a qualifying relative, on his parents? return.



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