Hal_Al
Level 15

Deductions & credits

The new tax law eliminated exemptions, starting in 2018.  2017 was the last year a $4050  exemption deduction was allowed. 

 

The standard deduction was doubled and the Child Tax credit (CTC) was also doubled. A new (up to) $500 credit for other dependents was added for dependents who did not qualify you for the CTC.