Dependent Exemptions

Dependent exemptions are parts of your tax return that recognize individuals—such as children or other relatives—who rely on you financially. Claiming them reduces your taxable income, potentially lowering the amount of tax you owe. Each dependent exemption allows you to deduct a specific amount from your income, reflecting the support you provide. These exemptions are used to acknowledge your responsibility for dependents, which can increase your overall tax benefits and reduce your tax liability.