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Get your taxes done using TurboTax
That's correct. Personal exemptions for dependents (and the taxpayer himself) will no longer be allowed. It will be replaced by an increase in the standard deduction . Which means dependents, other than children, are near worthless. Having a dependent might qualify you for Head of household, if you are not married
There never was an actual tax credit for dependents. The dependent exemption was a $4050 deduction from income before tax was calculated.
‎June 4, 2019
7:08 PM