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Level 1
May 21, 2020
Question

dependents exemption

  • May 21, 2020
  • 2 replies
  • 10 views

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

    2 replies

    VolvoGirl
    Level 15
    May 21, 2020

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

    Hal_Al
    Level 15
    Level 15
    May 21, 2020

    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.