Form 2120 PDF Details

The Form 2120, also known as the Multiple Support Declaration, is a critical document for individuals looking to claim a dependent for tax purposes when the traditional support threshold is not met by a single supporter. Crafted by the Department of the Treasury and overseen by the Internal Revenue Service, this form serves a unique purpose, allowing multiple individuals who each contribute over 10% towards the support of a qualifying relative to come to an agreement on who gets to claim the exemption on their tax return. A key requirement is that these supporting individuals must relinquish their right to claim the dependent for the tax year in question through a signed statement. This provision ensures fair play among contributors and prevents multiple claims for the same dependent. The form itself is an attachment to the standard Form 1040 or 1040A and comes with specific instructions detailing the conditions under which a person can be considered a qualifying relative. This includes the need for the collective support from all involved parties to exceed half of the total support for the individual. Despite the nuances and the requirements set by this form, it opens up possibilities for taxpayers to claim exemptions they might otherwise miss, supporting the broader goal of tax fairness and efficiency. The form, subject to updates and governed by the Paperwork Reduction Act, reflects the IRS's ongoing efforts to streamline tax reporting and ensure compliance with federal tax laws.

QuestionAnswer
Form NameForm 2120
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namesExemptions, exemption, definitions, qualifying

Form Preview Example

Form 2120

 

Multiple Support Declaration

 

OMB No. 1545-0074

(Rev. October 2005)

 

 

 

 

 

 

Attachment

Department of the Treasury

 

 

 

 

Attach to Form 1040 or Form 1040A.

 

Sequence No. 114

Internal Revenue Service

 

 

 

 

 

Name(s) shown on return

 

Your social security number

 

 

 

During the calendar year

, the eligible persons listed below each paid over 10% of the support of:

Name of your qualifying relative

I have a signed statement from each eligible person waiving his or her right to claim this person as a dependent for any tax year that began in the above calendar year.

Eligible person’s name

Social security number

Address (number, street, apt. no., city, state, and ZIP code)

 

Eligible person’s name

Social security number

Address (number, street, apt. no., city, state, and ZIP code)

 

Eligible person’s name

Social security number

Address (number, street, apt. no., city, state, and ZIP code)

 

Eligible person’s name

Social security number

Address (number, street, apt. no., city, state, and ZIP code)

 

 

 

Instructions

What’s New

The rules for multiple support agreements still apply to claiming an exemption for a qualifying relative, but they no longer apply to claiming an exemption for a qualifying child. For the definitions of “qualifying relative” and “qualifying child,” see your tax return instruction booklet.

Purpose of Form

Use Form 2120 to:

●Identify each other eligible person (see below) who paid over 10% of the support of your qualifying relative whom you are claiming as a dependent, and

●Indicate that you have a signed statement from each other eligible person waiving his or her right to claim that person as a dependent.

An eligible person is someone who could have claimed a person as a dependent except that he or she did not pay over half of that person’s support.

If there are more than four other eligible persons, attach a statement to your return with the required information.

Claiming a Qualifying Relative

Generally, to claim a person as a qualifying relative, you must pay over half of that person’s support. However, even if you did not meet this support test, you may be able to claim him or her as a dependent if all five of the following apply.

1.You and one or more other eligible person(s) (see above) together paid over half of that person’s support.

2.You paid over 10% of the support.

3.No one alone paid over half of that person’s support.

4.The other dependency tests are met. See Step 4, Is Your Qualifying Relative Your Dependent? in the Form 1040 or Form 1040A instructions.

5.Each other eligible person who paid over 10% of the support agrees not to claim that person as a dependent by giving you a signed statement. See Signed Statement on this page.

Note. To find out what is included in support, see Pub. 501, Exemptions, Standard Deduction, and Filing Information.

Signed Statement

You must have received, from each other eligible person listed above, a signed statement waiving his or her right to claim the person as a dependent for the calendar year indicated on this form. The statement must include:

●The calendar year the waiver applies to,

●The name of your qualifying relative the eligible person helped to support, and

●The eligible person’s name, address, and social security number.

Do not file the signed statement with your return. But you must keep it for your records and be prepared to furnish it and any other information necessary to show that you qualify to claim the person as your dependent.

Additional Information

See Pub. 501 for details.

Paperwork Reduction Act Notice. We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax.

You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by Internal Revenue Code section 6103.

The average time and expenses required to complete and file this form will vary depending on individual circumstances. For the estimated averages, see the instructions for your income tax return.

If you have suggestions for making this form simpler, we would be happy to hear from you. See the instructions for your income tax return.

Cat. No. 11712F

Form 2120 (Rev. 10-2005)

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