Apart from standard deduction, how much is the deduction for each child for 2007?

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Apart from standard deduction, how much is the deduction for each child for 2007?

2007-09-16 13:53:09 · 3 answers · asked by avatar 2 in Business & Finance ➔ Taxes ➔ United States

3 answers

Well you have to check it out but, the form is probably: form 501 good luck!

2007-09-16 14:05:38 · answer #1 · answered by helprhome 5 · 0⤊ 0⤋

You get $3400 for each exemption. Then if the chld is under 17, you get up to $1000 child tax credit for each up to the limit of your tax liability for the year.

2007-09-16 21:53:25 · answer #2 · answered by Judy 7 · 2⤊ 0⤋

I believe, each personal exemption this year is worth $3400 assuming that you do not make so much money that you are in the phaseout.

2007-09-16 21:19:17 · answer #3 · answered by Wayne Z 7 · 0⤊ 0⤋