how much extra money you get back on taxes if you claim a child?

Question

of course "sunshine" i know all that, but i'm not asking that, i'm asking what the amount is.

Answer 1

You can't just claim a child. You have to be able to prove you are the majority support for that child to take the tax deduction.

Answer 2

Assuming the child meets the rules, you get a $3300 exemption which is subtracted from your taxable income before your taxes are calculated. The savings from this will depend on your income and tax bracket.

You'll also get a child tax credit of $1000, assuming your total tax is that much. It'll get subtracted from your total tax, but if your total tax is less than $1000, would just take it to zero, you wouldn't get the rest refunded to you.

Depending on your income and a few other things, you might be eligible for an Earned Income Credit. Having a qualifying child puts you under different rules for the EIC - without knowing your income and filing status, it's impossible to say what that could be - could be anything from nothing up to several thousand dollars.

Answer 3

it depends on how much your annual income was for the year! the highest pay goes for areound 13000. annual income goes up to that point and down from there.