An Individual May Not Qualify for the Dependency Exemption as a Qualifying

question 29

True/False

An individual may not qualify for the dependency exemption as a qualifying child but may still qualify as a dependent.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, or the income earned from deposited funds.

Interest Rate

The proportion, in percentage, charged on the total amount borrowed or earned on the deposited amount over a specific time period.

Borrowed

Something obtained or received temporarily with the intention of returning it or its equivalent value.

Interest

The expense associated with lending money or the profit from an investment, usually shown as a percentage.