How come when I claim my dependent I don’t get the amount you say I should get

jason181925 · ‎June 4, 2019

SweetieJean · ‎June 4, 2019

Some "Tax Breaks" are deductions (subtraction from income, before the taxes are computed), not tax credits or refunds. For example, the $4,050 Personal Exemption.

Some credits (such as the Child Tax Credit) can only lower your taxes due to zero.

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

View solution in original post

xmasbaby0 · ‎June 4, 2019

Did the TurboTax announcement that you got a “tax break” confuse you? You do not receive $4050 for having a dependent. The "$4050 tax break" you saw means that since you have a dependent, $4050 of your income is "tax free." Your "dependent deduction" lowers the amount of your income that you have to pay tax on. It is not a refund.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

SweetieJean · ‎June 4, 2019

Some "Tax Breaks" are deductions (subtraction from income, before the taxes are computed), not tax credits or refunds. For example, the $4,050 Personal Exemption.

Some credits (such as the Child Tax Credit) can only lower your taxes due to zero.

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing