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rmarkgoff
New Member

How do I receive the Fed Gov $4,000 Tax Credit?

 
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Accepted Solutions
xmasbaby0
Level 15

How do I receive the Fed Gov $4,000 Tax Credit?

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.**

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1 Reply
xmasbaby0
Level 15

How do I receive the Fed Gov $4,000 Tax Credit?

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.**
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