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Grizz66
New Member

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

 
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Accepted Solutions
Hal_Al
Level 15

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

That's correct. Personal exemptions for dependents (and the taxpayer himself) will no longer be allowed. It will be replaced by an  increase in the standard deduction . Which means dependents, other than children, are near worthless. Having a dependent might qualify you for Head of household, if you are not married

There never was an actual  tax credit for dependents. The dependent exemption was a $4050 deduction from income before tax was calculated.

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6 Replies

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

Nothing is final but here is the proposed changes:

Eliminated
Personal exemptions, which in 2017 reduce taxable income by $4,050 each for taxpayers, spouses and dependent children.

<a rel="nofollow" target="_blank" href="https://www.usatoday.com/story/news/politics/2017/12/15/heres-whats-final-tax-bill-republicans-plan-...>

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

But any such change does not affect 2017 tax returns (filed in 2018).
Hal_Al
Level 15

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

That's correct. Personal exemptions for dependents (and the taxpayer himself) will no longer be allowed. It will be replaced by an  increase in the standard deduction . Which means dependents, other than children, are near worthless. Having a dependent might qualify you for Head of household, if you are not married

There never was an actual  tax credit for dependents. The dependent exemption was a $4050 deduction from income before tax was calculated.

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

The bill would creates a temporary credit for non-child dependents: It would allow parents to take a nonrefundable $500 credit for each non-child dependent whom they're supporting, such as a child 17 or older, an ailing elderly parent or an adult child with a disability.

http://money.cnn.com/2017/12/15/news/economy/gop-tax-plan-details/index.html at #6.

[Answer edited to add word nonrefundable as indicated in actual Conference bill].

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

Note that a tax credit (unlike a deduction) is a direct subtraction from taxes due.

With the new tax bill if I claim my disabled parents I will not longer get a credit for them will I?

Right, but also notice that personal exemptions are eliminated, so this makes up for some of that loss.

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