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Are you referring to the $4,050 dependent exemption?
The dependent exemption is a reduction of taxable income, not a dollar-for-dollar tax credit as is the dependent related Earned Income Credit.
For instance, if you are in the 15% tax bracket, your $4,050 dependent exemption will increase your refund (or decrease your tax bill) roughly $600.
Are you referring to the $4,050 dependent exemption?
The dependent exemption is a reduction of taxable income, not a dollar-for-dollar tax credit as is the dependent related Earned Income Credit.
For instance, if you are in the 15% tax bracket, your $4,050 dependent exemption will increase your refund (or decrease your tax bill) roughly $600.
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