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Albert and Louise, ages 66 and 64, respectively, filed a joint return for 2014. They provided all of the support for their blind 19 year-old son, who had no gross income. They also provided the total support of Louise's father, who is a citizen and life-long resident of Peru. How many exemptions may they claim on their 2014 tax return?
Willing
Ready, inclined, or favorably disposed toward taking a particular action or supporting a particular stance.
Valid Gift
A legally recognized transfer of property or assets from one individual to another without the expectation of payment or compensation.
Real Property
Real estate comprising the ground and any structures or natural features permanently affixed, such as homes and foliage.
Properly Executed Deed
A legal document that has been completed correctly, meeting all necessary formalities to transfer ownership of property.
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