Are There Any Tax Breaks If I'm Supporting A Relative?

If you provide over 50% of the living expenses for a relative(s), you could be entitled to a number of helpful tax credits.  In the event that these expenses are being shared between two or more members of the family, you can file a multiple support agreement; allowing those who contribute more than 10% to benefit from the credit.  Some of the most common available exemptions are:

  • Head of household filings
  • Dependency exemptions
  • Dependent care tax credits
  • Certain medical deductions