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It depends. The answer to this question has a lot to do with your income. The more income you have, the more likely that you will have noticeable tax savings for your return. Here are the different credits you face:
With lower income, you probably won't see larger benefits for claiming all 5 children on your return. Therefore, if you live in the same house with someone who can legitimately claim some of your other children (must be an aunt/uncle, grandparent, or even an older brother or sister who has higher income than you do), you may choose to do so. But if you have no others in the house to claim children or your income is high enough, then you are better off claiming them all.
It depends. The answer to this question has a lot to do with your income. The more income you have, the more likely that you will have noticeable tax savings for your return. Here are the different credits you face:
With lower income, you probably won't see larger benefits for claiming all 5 children on your return. Therefore, if you live in the same house with someone who can legitimately claim some of your other children (must be an aunt/uncle, grandparent, or even an older brother or sister who has higher income than you do), you may choose to do so. But if you have no others in the house to claim children or your income is high enough, then you are better off claiming them all.
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