gross-income test

Definition

One of five required tests that a "child" must pass before being claimed as a dependent in the U.S. The "child" must be under a certain age (normally 18, but up to 23 if a fulltime student), and cannot have earned more than the dependency exemption for that year ($3,700 in 2011).

Related Videos




http://www.businessdictionary.com/definition/gross-income-test.html

Today's Top Bulls

72% Bullish
(36 Votes)
70% Bullish
(103 Votes)
69% Bullish
(26 Votes)
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z