What is the approximate amount you get back on your taxes when you claim a child as a dependent?
2007-01-29 02:10:38 · 4 answers · asked by prettydebutante 3 in Business & Finance ➔ Taxes ➔ United States
Each exemption (you, spouse, child, etc) reduces your taxable income by $3,300 for 2006. This is a deduction, not a credit, so how much you "get back" depends on what your tax bracket is.
2007-01-29 02:18:31 · answer #1 · answered by maxinestringbean 2 · 0⤊ 0⤋
An approximate amount cannot be determined without knowing how much money you made last year, as well as how you are going to file- single, head of household, married, filing jointly, etc.
2007-01-29 02:17:37 · answer #2 · answered by rosey 7 · 0⤊ 0⤋
$1000 for the "child tax credit" there are some circumstances that can make that amount lower, but everyone I have ever known has received the full amount so I would assume you would as well.
2007-01-29 02:15:56 · answer #3 · answered by ♥♫♥ Crystal ♥♫♥ 4 · 0⤊ 0⤋
it depends on what you made that year. where do you live? i could give you some helpful info depending on the state.
2007-01-29 02:15:45 · answer #4 · answered by prettysexycalves 3 · 0⤊ 0⤋