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dependents exemption

Why don't I see the exemptions for children (dependents) but only see the child tax credit?

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2 Replies

dependents exemption

You only get one or the other.  And there is no more personal exemptions since they increased the Standard Deduction.

Hal_Al
Level 15

dependents exemption

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.

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