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2019 Dependant Tax Deductions

The TurboTax deluxe edition tax deduction finder platform can be enhanced with several other TurboTax tools that relate to particular areas of expenses you may incur during the year. Dependant and Child Care expenses can be countered with valuable tax deduction advantages.

TurboTax can help you find out which child care and dependant credits and deductions you may be eligible to claim on your income tax return.

Deducting Dependant Expenses

Can I claim my child as a dependent? You may qualify if the following apply:

You do not qualify if the following applies:

For those who qualify, the following deductions and credits may be available to you on your tax return:

Dependents Credits & Deductions Tax Calculator

Family Tax Exemptions & Deductions for You and Your Dependents

Exemptions are subtract from your Adjusted Gross Income

For 2018, you can claim a $4,050 exemption for each qualifying child, this may include your child or stepchild, sibling or step-sibling, foster child, or descendants such as grandchildren. You and your spouse also are entitled to a $4,050 personal exemption. The child must:

Higher-income taxpayers are subject to a phase-out rule that curtails deductions for personal and dependent exemptions. There is also a phase-out of itemized deductions for high earners.

Those subject to the Alternative Minimum Tax (AMT), cannot deduct personal or dependent exemptions.

The TurboTax Dependents Credits & Deductions Tax Calculator can also help you with other qualifying dependants include parents, grandparents, or relatives you support who do not necessarily live with you, as long as the supported person meets all five of the following criteria:

  1. They are a relative, or full-time member of your household
  2. They are a U.S. citizen, or resident of U.S., Canada or Mexico
  3. They did not file a joint income tax return with anyone else
  4. You provided over half of their support
  5. They have less than $4,050 of gross income (2018 Limits)

Students that don't meet the age/student test or the residence test, may still be claimed as a qualifying relative if they had gross income under $4,050 and you provided more than half of their support.

Who qualifies as a relative? By blood or marriage:

See IRS Publication 504 for Divorced or Separated Individuals

Only one person can claim an exemption for any single dependant on their tax return. See IRS Publication 501 for more information.

Deducting Medical expenses

You can deduct medical expenses if you itemize, and they exceed 10 percent of your Adjusted Gross Income. Qualified expenses include prevention, diagnosis or medical treatment for mental and physical function of the body for health purposes (not cosmetic). This includes transportation to receive medical care, health insurance premiums, and prescription drugs.

Education expenses may be deductible under qualifying criteria.