jtax
Level 10

Deductions & credits

This is complicated and changed with the 2017 tax reform. You used to get a deduction for dependents of about $4,500 each. That deduction was removed (in exchange for doubling the standard deduction you get without any conditions.)

 

There are complicated rules for who can be a dependent. Part depends upon your relationship to them, part on where they live, part on whether you provide more than half of their support.

 

Even with the 2017 law changes there are various credits and other deductions that you might want to investigate. Without more research I can't advise (this is a volunteer forum), but may be worth reading up on.

 

These links may be a starting point for your research:

 

https://www.thebalance.com/no-more-personal-exemptions-you-can-still-claim-these-tax-credits-4169655

 

https://www.irs.gov/pub/irs-pdf/p501.pdf 

or

https://www.irs.gov/publications/p501

 

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