Deductions & credits


@johnM6406 wrote:

Here's the question, is the dependent deduction different depending on income?  Last year my deduction was $2,000, this year, Turbo Tax only gave a $500 deduction?  My income is a bit up but not hugely.  


Yes it can be but how old is the dependent?

 

$500 would be the amount for a dependent over the age of 16 at the end of the year.

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**