Tax deduction per child
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If a person has a child what is the tax deduction for federal taxes when you file?
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There are several possible deductions for a child. The exemption amount for a child is $3650. The child tax credit is $1000 for a child under 17.
You can claim the Head of Household (HOH) filing status on your tax return if you are unmarried, have cared for a dependent for over half the year, and paid more than half the cost of maintaining a home.The definition of HOH filing status is quite specific. Here's a link: http://taxes.about.com/od/filingstatus/qt/headofhousehold.htm
There is also the earned income credit for a qualifying child if your income if is below a certain amount. Here's a link for that:
http://taxes.about.com/gi/o.htm?zi=1/XJ&zTi=1&sdn=taxes&cdn=money&tm=8&f=00&tt=13&bt=0&bts=0&zu=http%3A//www.irs.gov/publications/p596/index.html
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