Please bear with me as I try to understand. I thought that a dependent deduction would reduce the amount of taxable income (AGI) I need to pay taxes on. If I understand correctly, a dependent tax credit reduces the amount of taxes (my AGI stays the same) I am required to pay, no matter what my tax bracket is?? So in this case, getting the tax credits means basically the same thing as a deduction to the IRS even though they are not claimed as dependents??
