ANSWERS: 1
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The standard tax deduction for one dependent child under age 19 is $3,650 per child (in 2009). To qualify, the child must be supported and live at home for half the year. There is also a $1000.00 child tax credit for those who qualify under a certain gross income.
Source:
IRS.gov: Child and Dependent Care Expense Form 503
IRS.gov: Standard Deduction and Filing Form 501
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