Dependent

Definition

• A person, often a child or spouse, who relies on someone else for financial support. Dependents can be claimed as exemptions which reduces the amount of your income that is taxed.

Synonyms
relies on someone, child, helpless, minor, baby, defenceless

Related Terms and Acronyms

• Alimony — Definition,
  • Monthly payments received by an ex-spouse. Payments must be received continuously for one year to be counted toward qualifying income for a loan.
• Child Support (CS) — Acronym,
  • Monthly payments that contribute to the care of a child. Payments must be received continuously for one year to be counted toward qualifying income for a loan.