USE 2018 TAX RULES Franks living expenses come to $20,000 for the year. He covers...
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Accounting
USE 2018 TAX RULES
Franks living expenses come to $20,000 for the year.
He covers $4,000 from his own savings.
Franks old high school chum Ed contributes another $4,000.
The remaining $12,000 are obtained as follows: Fran, Franks daughter: $4,500; Franks 5 grandchildren each kick in $1,000; Bob, Franks brother, $2,500. Franks gross income is $2,450.
The family asks you if anyone can claim Frank as his or her dependent what do you tell them? (show your analysis.)
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