What MULTIPLE SUPPORT AGREEMENT means: If two or more persons who would otherwise be entitled to an exemption for a dependent other than a qualifying child, together furnish more than half the dependent's support (but no one individual provides more than half), any one of them who furnishes more than 10% of the support is entitled to the exemption if all the others who furnished more than 10% of the support file written declarations that they will not claim an exemption for the individual for that taxable year. Form 2120 is used for this purpose.
- Definition Married Filing Separately:
- Dictionary A filing status that can be used by married taxpayers who choose to record their respective incomes, deductions, and credits on separate individual tax returns multiple support agreement definition.
- Definition Modified AGI (MAGI):
- Dictionary gross income (MAGI) is a figure used to figure the limit on an exclusion or deduction allowed in computing adjusted gross income. Depending on the item for which MAGI is being computed, certain items multiple support agreement explain.
- Definition Margin:
- Dictionary A percentage of the full price of a security that must be paid as a down payment by an investor buying on credit. The required margin fluctuates subject to federal regulations multiple support agreement what is.
- Definition Medical Savings Account (MSA):
- Dictionary tax-exempt trust or custodial account that you set up with a U.S. financial institution (such as a bank or an insurance company) in which you can save money exclusively for future medical expenses multiple support agreement meaning.
How works Multiple Support Agreement meaning in Tax definitions M .
