Hal_Al
Level 15

Get your taxes done using TurboTax

Unlike claiming a child, there are no credits for claiming a parent. The only thing you get is his/her exemption; a $4050 deduction from income before tax is calculated. 

So, you " received" a savings of $4050 times your marginal tax bracket, unless your tax was already at zero. For example, if you are in the 15% TAX BRACKET, you saved 4050 x 0.15 = $608

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