What will the deduction be for 1 dependent on our 1040 for our 2020 taxes?

[rcbarb20]

We file married/jointly.

[xmasbaby0]

Deduction?  Personal exemptions are gone.   The last tax year for a personal exemption for a dependent was tax year 2017.  When the tax laws changed for 2018 and beyond, instead of the $4000+ personal exemptions for yourself and your spouse and dependents, your standard deduction increased.

If you have a child listed as a dependent, then there are some child-related credits you might get:

Look at your 2020 Form 1040 to see the child-related credits you received

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Child Tax Credit line 19

Credit for Other Dependents line 19

Earned Income Credit line 27

Additional Child Tax Credit line 28

Child and Dependent Care Credit line 31 (from line 13 of Schedule 3)

https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit

https://www.irs.gov/help/ita/does-my-childdependent-qualify-for-the-child-tax-credit-or-the-credit-f...

https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit

https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...

https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant

https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-cre...

[DJS]

There is no longer a personal exemption for yourself, your spouse or your dependent. This was replaced with a higher standard deduction. However, there are still tax credits you may be eligible for such as the child tax credit: Taxpayers can claim a child tax credit (CTC) of up to $2,000 for each child under age 17 who is a citizen. The credit is reduced by 5 percent of adjusted gross income over $200,000 for single parents ($400,000 for married couples). If the credit exceeds taxes owed, taxpayers can receive up to $1,400 of the balance as a refund, known as the additional child tax credit (ACTC) or refundable CTC. The ACTC is limited to 15 percent of earnings above $2,500.

See the following: https://turbotax.intuit.com/tax-tips/family/child-tax-credit/L9ZIjdlZz