In Certain Circumstances, a Taxpayer Who Provides Less Than Half

question 57

True/False

In certain circumstances, a taxpayer who provides less than half the support of another may still be able to claim that person as a dependent as a qualifying relative.

---

Definitions:

Interest Expense

The financial charge an organization incurs over a period for taking out loans.

Operating Cash Flow

This measures the cash generated by a company's normal business operations, indicating whether it is capable of maintaining and growing its operations.

Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Tax Rate

The percentage at which an individual or corporation is taxed by the government on their income or profits.