In Order to Claim a Dependency Exemption for Other Than

question 157

Essay

In order to claim a dependency exemption for other than a qualifying child, a taxpayer must meet the support test. Generally, this is done by furnishing more than 50% of a dependent's support. What exceptions exist, if any, where the support furnished need not be more than 50%?

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Definitions:

Overapplied Overhead

A situation in cost accounting where the allocated overhead for a period exceeds the actual overhead incurred.

Job Order Cost System

This system is a cost accounting method that assigns costs to specific production batches or jobs, making it easier to track the financial resources spent on each job.

Underapplied Manufacturing Overhead

The situation where the allocated manufacturing overhead costs are less than the actual costs incurred.