Question

My taxes went way up this year. My son is no longer a deduction. How much of a difference (in dollars) does this make?

Forum|Forum|5 years ago
December 31, 2020
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TurboTax Deluxe Online

Employee

That depends on your taxable income but if the child was a Qualifying Child dependent in the past and is now over age 18 (or 23 if a full time student) or otherwise no longer qualifies, then you could loose up to a $2,000 credit and additional EIC (if you qualify for EIC).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**