answersLogoWhite

0

$3500 is the exemption for each dependent.

$1000 is the child tax credit for kids under age 17.

For kids under 17 that are your dependents you qualify for both the exemption and the credit.

Note: Only the person filing the child as a dependent will receive the money.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Does a claimer of a dependent have to give money to the dependent from tax refund?

No. The money that the person gets back for the tax refund is kind of a repayment for things that they have already done to support the dependent. It isn't money that belongs to the dependent.


If you buy a lottery ticket for another person with your own money and that ticket wins do you legally have to honor your agreement with that person or can you claim the prize?

well in my opinion i think that the person who paid for the ticket should win the money because well it is their money... but if you are a good person you should share the prize.


What is a person who owes money to another person called?

A person who owes money to another person is called a debtor. This term refers to anyone who has borrowed money or is obligated to repay a financial obligation. In contrast, the person or entity to whom the money is owed is called a creditor.


Is it illegal to transfer money on behalf of another person?

It is not illegal to transfer money on behalf of another person as long as you have their permission and are not involved in any illegal activities such as money laundering or fraud.


What is the temporary transfer of money from one person to another?

One person is loaning money to another person, expecting to be paid back (with or without interest) sometime by an agreed future date.


Is Accounts receivable is the opposite of accounts payable?

Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company


Should a person marry for money or love?

the money honey :)


What is it called when someone steals money from another?

It is called theft or embezzlement when someone steals money from another person.


How do you write a letter to bank manager for transfer one person account money to another person's account?

how do send a mail to bank while transfer money from account to another


What is a substantive offense?

"A crime that is complete in itself and is not dependent on another crime for one of its elements."example: Solicitation (Allurement) Nounthe act of enticing a person to do something wrong (as an offer of sex in return for money)andabetment in crime...........+923014606199


What is substantive offense?

"A crime that is complete in itself and is not dependent on another crime for one of its elements."example: Solicitation (Allurement) Nounthe act of enticing a person to do something wrong (as an offer of sex in return for money)andabetment in crime...........+923014606199


Can i sue a person from another state who owes me money in small claims court?

Yes, you can sue a person from another state if that person owes you money. Access your local small claims court to file the lawsuit.