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How much do we get back per dependent in 2010?

I just caught wind that we will get $3000 for 1 dependent, $5000 for 2, and $6000 for 3 and more. Was this just a rumor or is this true????

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Anonymous

Asked by Anonymous at 4:01 PM on Jan. 15, 2010 in Politics & Current Events

Answers (3)
  • You can claim $3650 exemption for each dependent. You can get a max of $1000 credit (return) per child in the Child Tax Credit. EIC will depend on your income.
    michiganmom116

    Answer by michiganmom116 at 4:30 PM on Jan. 15, 2010

  • You don't actually get the whole amount back...it's a CREDIT that goes against what you paid in. If you paid what you were supposed to and subtract the dependent credit, you will get back a portion of what you then "overpaid." It all depends on how much you actually paid in taxes. If you didn't pay any income taxes in 2009, then you've already received a tax credit! :o)
    LoriKeet

    Answer by LoriKeet at 5:19 PM on Jan. 15, 2010

  • You don't get money back, you get a reduction in your taxable income, which will lower your tax liability.
    rkoloms

    Answer by rkoloms at 8:10 PM on Jan. 15, 2010

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