MinhT1
Expert Alumni

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 It has been replaced by a much higher standard deduction.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.

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