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Dependent Tax Value Calculator

Estimate what your dependents are worth at tax time under current law — the $2,000 Child Tax Credit and $500 credit for other dependents, with phase-out.

Qualifying children under 17

Other dependents

Modified adjusted gross income

Filing status

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How it works

Gross credit = children × $2,000 + other dependents × $500 · Phase-out = $50 per $1,000 of MAGI over $200,000 ($400,000 MFJ) · Credit = max(0, gross − phase-out)

The personal and dependent exemptions were set to $0 from 2018 through 2025, replaced by a larger Child Tax Credit. A credit is worth far more than the old exemption because it subtracts directly from tax owed rather than from taxable income: $2,000 per qualifying child under 17 and $500 for other dependents. The credit phases out by $50 for every $1,000 of income above $200,000 (single) or $400,000 (married filing jointly).

Worked example

A married couple with two young children and $120,000 of income is under the $400,000 threshold, so they keep the full 2 × $2,000 = $4,000 Child Tax Credit — a direct $4,000 cut to their tax bill, not merely a deduction from income.

Frequently asked questions

Aren’t dependents worth a personal exemption?

Not currently. The Tax Cuts and Jobs Act set personal and dependent exemptions to zero for 2018–2025 and roughly doubled the standard deduction and the Child Tax Credit instead. This tool values dependents through those credits.

What is the difference between the two credits?

The $2,000 Child Tax Credit is for a qualifying child under 17 with a Social Security number. The $500 Credit for Other Dependents covers older children, parents and other qualifying relatives you support. Both phase out at the same income thresholds.

When does the credit start to shrink?

Above $200,000 of modified AGI ($400,000 married filing jointly), the total credit drops by $50 for each $1,000 (or part) over the threshold, so it fades out gradually rather than disappearing at once.

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Educational estimate using 2024 U.S. federal figures — ignores state tax, credits, phase-outs and your full situation. Not tax advice; confirm with a professional or the IRS.