- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
what is the deducton for a dependent
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
The personal exemption per dependent has been suppressed by the Tax Cuts and Jobs Act since 2018. It has been replaced by a much higher standard deduction.
Also, the Child tax credit has been increased to $2,000 per child under age 17. There is also an 'Other dependent' credit of $500 per dependent not eligible for the child tax credit.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
There are several child-related credits you *may* get if you have a dependent child and if you have income earned from working.The amount earned by working has a major effect on how much you receive for the child-related credits.
You might be getting the Child Tax Credit--that is not all a refund--it lowers the tax you owe, up to $2000 per child, but if you do not owe tax then you may not get the full amount of CTC. In some cases, you could qualify for the "Additional Child Tax Credit" which is a refundable credit, and would increase your refund. If you qualify for this credit, TurboTax calculates and automatically adds it to your refund.
You might be able to claim the child and dependent care credit if you paid someone to take care of your child so you could work. This is not a refundable credit, so it will not be in your refund. It can lower the tax you owe.
You might qualify for Earned Income Credit, which is a refundable credit if you worked and earned income. The EIC is based on the amount you earned. If you do qualify for EIC, TurboTax automatically calculates the amount and adds it to your refund.
Look at your 2019 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 13a
Credit for Other Dependents line 13a
Earned Income Credit line 18a
Additional Child Tax Credit line 18b
Child and Dependent Care Credit line 18d
https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit
https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit
https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant