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I claimed one child dependent, why didn't i get the $4,000.

 
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NewGuy
New Member

I claimed one child dependent, why didn't i get the $4,000.

The personal exemption you are able to claim for having a dependent reduces your taxable income by $4050.  This does not mean you will get $4050 back by claiming a child.  The amount this reduces your tax obligation will depend on your overall income and in which tax bracket you fall.

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