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What is Section 152 of the Internal Revenue Code and why is it important?

April 26, 2017code Internal revenue section

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What is Section 152 of the Internal Revenue Code and why is it important?

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To qualify for Category B LDA coverage, an individual must meet the definition of “dependent” set forth in Section 152 of the Internal Revenue Code. That section specifies the conditions of financial support, relationship and citizenship necessary to “dependent” status under federal tax law.