I have a dependent child living with me but it only shows a $70 tax credit. Isnt the standard deduction for a dependent more?

randygarrity1 · ‎June 4, 2019

pk · ‎June 4, 2019

There is no personal exemption this year ( neither for the filer not for any dependents). However child tax credit is valid. But it is a non-refundable credit and the total allowed credit amount will be the lesser of tax liability ( before applying credit ) OR eligible credit.

Is this your case?

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pk · ‎June 4, 2019

There is no personal exemption this year ( neither for the filer not for any dependents). However child tax credit is valid. But it is a non-refundable credit and the total allowed credit amount will be the lesser of tax liability ( before applying credit ) OR eligible credit.

Is this your case?

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I have a dependent child living with me but it only shows a $70 tax credit. Isnt the standard deduction for a dependent more?