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How am i getting only $700 more than last year on my return when household income is $10,000 less than the previous tax year and we had a child that gives us a $4,000 tax credit
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You do not receive $4000 for having a dependent. The "$4050 tax break" you saw means that since you have a dependent, $4050 of your income is "tax free." Your "dependent deduction" lowers the amount of your income that you have to pay tax on. It is not a refund.
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