Saturday, October 24, 2009

With a child born last year what is child tax credit amount?

I am the grandmother and i would like to know if there is a 1200.00 dollar amount return for having a child born in 2007 or is it just the normal 110.00 for having a depended child

With a child born last year what is child tax credit amount?
A dependent is worth $3400 of exemption. Less income, less tax to the taxpayer.





A child is worth up to (let me stress up to) $1000 for a child tax credit, but this assumes you owe tax.





EIC is possible, but depends on income and whether or not you can claim the child (up to 2 children).





NOTHING is guaranteed.
Reply:Plus each child is worth $300 on the stimulus rebate depending on income


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