Guest Ozzie Posted March 4, 2005 Posted March 4, 2005 Can anyone explain how to determine the income limit used in the income test for a qualifying relative? All the articles I have read refer to the 2005 limit being $3200 but I do not see where that dollar amount is determined. §151(d) is referenced but I am missing the connection. Is the exemption amount of $2000 in §151(d)(1) an indexed amount? Any assistance that can be provided would be much appreciated. Thanks!
WDIK Posted March 4, 2005 Posted March 4, 2005 Code Section 151(d)(4) addresses the adjustments for inflation. ...but then again, What Do I Know?
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