2006-07-18 16:55:10 · 8 answers · asked by Eric Inri 6 in Business & Finance ➔ Taxes ➔ United States
Yes.
2006-07-18 16:57:50 · answer #1 · answered by whozethere 5 · 0⤊ 0⤋
Yes. However, the ability to support a large family implies a large income. Couples whose AGI exceeded $218, 950 for 2005 lost some or all of their dependency deduction. The phase out started at a lower income for other taxpayers. Less well off taxpayers would get the full deduction for all their dependents.
2006-07-22 09:05:27 · answer #2 · answered by Steve B 6 · 0⤊ 0⤋
yes they get a deduction for each child under 18, also they have child tax credit , and earn income tax credit but both of these credits are limited to two children.
2006-07-18 16:58:12 · answer #3 · answered by MYRAJEAN 4 · 0⤊ 0⤋
Only for the first four. After that it's a flat rate deduction. What's strange is the EIC actually goes up to Five, I believe.
2006-07-18 16:59:30 · answer #4 · answered by DEATH 7 · 0⤊ 0⤋
Yup. All those under 18 and living at home.
2006-07-18 16:59:35 · answer #5 · answered by PermDude 4 · 0⤊ 0⤋
there is a child tax credit, check it out
2006-07-18 16:58:03 · answer #6 · answered by Jimmy1575 2 · 0⤊ 0⤋
no only the first two...lmao..
2006-07-18 17:02:02 · answer #7 · answered by fatgurl 1 · 0⤊ 0⤋
duh of course they do
2006-07-18 16:59:51 · answer #8 · answered by jane f 3 · 0⤊ 0⤋