In-Depth Look at Extended Families and Their Potential Tax Perks [INFOGRAPHIC]

September 12, 2015 : H&R Block

Think a tax dependent has to be younger than you? Think again. In honor of Grandparent’s Day, we took a look at multigenerational families that live together in the U.S. That could be grandparents caring for grandchildren, children caring for parents and anything in between. Besides the intangible benefits that might come from living with families members, there are some definite tangible ones too. If you live at home, you might save money when it comes to rent or utilities. If you support family members, you might reap the benefit of claiming them as a dependent on your tax return. Read on for more details!

Click to view larger image

Like this infographic? Use the code below to embed it on your site:

Related Topics

Related Resources

Is TurboTax Live the Best Virtual Tax Prep Option?

Looking for virtual tax help with your online filing? Learn more about your options by comparing TurboTax Live to H&R Block Tax Pro Review and Tax Pro Go.

Student Loan Interest Deduction

Learn how to deduct student loan interest with H&R Block. Get information about qualified education expenses and see if a student loan tax deduction applies to you.

What Are H&R Block’s Prices?

Trying to determine the cost of tax preparation or H&R Block’s prices? Find out why there is no one-size-fits-all answer when it comes to tax prep.

Is Volunteer Work Tax Deductible? | H&R Block

Spending your time volunteering is a great way to give back. Learn more about the tax benefits for volunteer work when filing your taxes at H&R Block.

H&R Block

H&R Block