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How much money should I get for 2 dependents? Do I count my self as a dependent?
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How much money should I get for 2 dependents? Do I count my self as a dependent?
No you do not count yourself. You already get your own personal exemption unless you can be claimed as a dependent on someone else’s return. You don’t get a set amount for dependents. You get a $4,050 tax deduction for each person and dependent listed on your return. That is subtracted from your income before the tax is calculated so you get taxed on a lower amount.
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How much money should I get for 2 dependents? Do I count my self as a dependent?
Please use this IRS "test" link to decide who is a qualifying dependent.
https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent
Each personal exemption is $4050
https://www.irs.gov/charities-non-profits/other-non-profits/requirements-for-exemption
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