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mes230206
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How do I know how much I got back for one dependent?

 
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5 Replies
SeanE1
New Member

How do I know how much I got back for one dependent?

The way you measure the benefit of claiming one dependent on your income tax return is by what's called an exemption amount.  For 2016, one dependent/exemption is worth $4,050.  The way one exemption works is to reduce a person's taxable income by $4,050.  For example, if you had $30,000 in taxable income with one exemption for yourself, one exemption for your wife, and one exemption for a child, that would be three exemptions worth $4,050 each, or $12,150 for all three.  Now, instead of being taxed on that $30,000 of income you would be taxed on $17,850, ($30,000 - 12,150).

If you want to see the exemptions on your 2016 Form 1040, look on Line 42 or your 1040 A, Line 26.

How do I know how much I got back for one dependent?

The question asks how much they got back. Not how much they didnt pay

How do I know how much I got back for one dependent?

This is a 2 year old thread.  But here you go:
Your refund is not broken down by how much you "get" for each dependent.  
There are several child-related credits you *may* get if you have a dependent child.
You might be getting the Child Tax Credit--that is not all a refund--it lowers the tax you owe, up to $2000 per child, but if you do not owe tax then you may not get the full amount of CTC.  In some cases, you could qualify for the "Additional Child Tax Credit" which is a refundable credit, and would increase your refund.  If you qualify for this credit, TurboTax calculates and automatically adds it to your refund.
You might be able to claim the child and dependent care credit if you paid someone to take care of your child so you could work. This is not a refundable credit, so it will not be in your refund.  It can lower the tax you owe.
You might qualify for Earned Income Credit, which is a refundable credit if you worked and earned income. The EIC is based on the amount you earned.  If you do qualify for EIC, TurboTax automatically calculates the amount and adds it to your refund.

Look at your 2018 tax return to see the child-related /dependent credits you received:
Child tax credit line 12a
Additional Child Tax Credit line 17b   (schedule 8812)
Credit for Other Dependents line 12a
Earned Income Credit (EIC) line 17a
Child and Dependent Care Credit line 12     (comes from Schedule 3 Form 2441)

The dependents you listed are on the first page of your Form 1040 below your address.

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900923-what-is-the-child-tax-credit">https://ttlc.intuit.com/ques...>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900643-what-is-the-child-and-dependent-care-credit">https://ttlc....>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1899157-what-are-the-qualifications-for-the-earned-income-credit-e...>
<a rel="nofollow" target="_blank" href="https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/use-the-eitc-assistant">...>
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4499708-what-is-the-500-credit-for-other-dependents-family-tax-cre...>
**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.**

How do I know how much I got back for one dependent?

Thank u. Sorry if what I typed was rude. I was just pissed at my sister and proveing to het that I dont get 2000 back just for claiming her. Thanks for ur help

How do I know how much I got back for one dependent?

You are welcome.
**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.**
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