 So if we add a dependent then we still have married filing joint no change there But now we have the dependent in place and we're going to say they're a qualifying child So nothing really changes on the first page. We're still have the same standard deduction That's the big point that that one dependence not going to change the status like it could on a single status If I go to the second page the tax is still at the 848 for but we now have the the child tax credit That's the big, you know benefit of course and I can go into the other credits here. It's a child number one We've got the child tax credit pulling that over and there's the two thousand So that gives us our six four eight four on the tax and then we've got the 15,000 to get us to the To the eight five one six So there is that on that one now if I added another child We'd have a similar situation if the income was below a certain threshold You could also have the earned income credit factored in when married. It's not like that goes away when married But when you have different income amounts when single versus married that The benefits of those refundable credits could be different, which again, we'll talk about in the future So so now you could imagine situations where the the Dependent wasn't a qualifying child Or possibly they're a qualifying child, but they're a full-time student Let's say so so so they're over the threshold to get the child tax credit So in my data input, I'm gonna say that this one is still the son So still the child, but they're gonna be a student age 19 to 23 And of course I changed the birth date to put them in that range So then if I go back up, I'm gonna say all right well now There's still a dependent, but they're not gonna be qualified for the child tax credit They're still like a qualifying child in that they were a child qualifying for a dependent as opposed to a non child Call a non child qualifying for a dependent But they don't have the the qualifications in terms of age and whatnot to qualify for the child tax credit So then the question is do you get the the credit for other dependents? Which of course is substantially less, right? So there's no change on the first page here the second page. We've got the change from From the the 2,000 to 500 so if I go back on over and I look at my Other credits. So now let's add another column down here. I'm gonna I'm gonna insert another rose not columns These are rose these are rose Whatever dude anyways, I'm gonna copy this stuff and Put that here and this is gonna say other Other dependent credits and this is this is Dependent one which happens to be a child, but we'll just say Dependent we might actually put their name there in practice and so now I'm gonna say I don't have these two But I have this other dependent 500 and that's pulling into the total which will pull into the first page There's a 500. There's the total tax seven nine eight four So the seven nine eight four fifteen thousand withheld gets us to the seven oh One six seven oh one six boom So there is that and so those there's the general the general rules now Obviously if they're not you can see kind of like with the data input You can run different scenarios all those kind of strange kind of scenarios So you can see here in the data input. We have the adopted child aunt brother child daughter father Grant grandchild notice remember there's a little bit different rules for whether they live with you or not when you're talking about Parents versus versus other dependence and whatnot the test could be a little bit different there So keep that in mind knees and so on and so forth and then I'm gonna say months lived lived at home So I'm gonna say 12 here a child living with the taxpayer versus child not living with the taxpayer Dependent other than a child. So I'm gonna say this is a dependent other than a child. Let's say and Let's say they're gonna be not a student, but we'll say child tax credit When applicable, but they're a dependent other than a child so it's not gonna be applicable there and then the child tax credit when applicable or you could force it to suppress and the Dependent claimed by the taxpayer or the spouse. So if you had a married situation You might be saying okay the dependent is being Claimed by the spouse dependent not claimed this year So you can check that off if you have the information in but possibly you have a custody agreement where possibly the dependence being claimed by one One parent one year or custodial person one year and one in the following year for example and so on and so forth So all those kind of gray area Situations you should be able to populate kind of in your data input forms here and then When you pull it over when you pull it over We they should be able you should be able to kind of have an idea of the rules in your mind and see if the rules are then Populating as you would think so once again if they're not a qualifying child If there's some other kind of dependent that qualifies the main benefit would be not the child tax credit Which is usually the big one, but the other credit for other dependents typically would be the general rule So once again same kind of scenario here without 500 credit instead of the 2000 credit So I won't go into basically every other kind of scenario That that happens here, but I just want to get a general idea for now What the impact of having a dependent could be in the different areas and we focused more In prior presentations on the filing status is changing which could change in part to the dependence So some of this stuff is interrelated We talked about a change to the filing status possibly having of course an impact on the standard deduction We talked about the change to the filing status possibly having a change to the tax brackets That will be applied on the tax tables when we do the actual tax calculation We talked about the dependence usually the big thing that comes to mind are The the whether they qualify for the dependent credits child tax credit being the bigger one or the the other Dependents that's the first thing that comes to mind Although again the dependence could have a significant impact on some of the refundable items Which means part of the pilot part of the child tax credit could be refundable and The earned income tax credit could be again a really big significant item to take into consideration If people are in the lower income side of things that could have a Effect on and so some of those credits will focus in on the credit side again Later looking at it from the angle of the credits which again will tie back into the dependence But our focus in that case will be looking on the different ways these credits will be affected in those items