Standard Tax Deduction for a baby...

My DH and I were wondering about how much do you get back for just claiming your baby? This is the first time we get to claim our son.

Thanks!

Oooh I forgot all about this!! Something else to look forward to next year!

For some reason I thought it was more money though.

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Posted by Rainmama

It's $1000 per child. There is a form you need to fill out to claim the 'child tax credit.'

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isn't that in addition to just claiming a dependant?

Heres some info I found on Child Tax Credits, but I don't think thats the same as a deduction.

Child Tax Credits

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Posted by tourist

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Posted by Rainmama

It's $1000 per child. There is a form you need to fill out to claim the 'child tax credit.'

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isn't that in addition to just claiming a dependant?

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Yes. I forgot about that.
If your adjusted gross income is under $107,025, you can deduct $3,100 for each dependent (that's you, spouse, children) off your INCOME.
The child tax credit reduces the amount you pay in taxes and is generally $1000, it could be less though. And you need to make under $110,000 to claim it.

Oh, you can also get a deduction for any child care you have paid for, as long as the provider's income is taxed.