Sentences with phrase «dependent on a federal income tax return»

Not exact matches

However, the student may claim the deduction based on payments made by the parent (assuming that the student is not claimable as a dependent on someone else's federal income tax return).

Through IBR, any borrower can cap payments on his loans at 10 percent of a portion of his income, which is calculated by deducting 150 percent of the poverty line for his household size ($ 17,655 for a single person without dependents) from the adjusted gross income stated on his federal tax return.

Whether you must file a federal income tax return depends on your gross income, your filing status, your age, and whether you are a dependent.

Foster parents may claim a deduction of $ 1,000 for each child residing in their home under permanent foster care, as defined in the Code of Virginia, provided that they claim the foster child as a dependent on their federal and Virginia income tax returns.