I would just like to know approximately how much money you get back for claiming a child on your taxes?:)

It is NOT that simple.

It depends on your tax bracket and whether you qualify for the Child Tax Credit and/or the Earned Income Credit.

Each Exemption is worth $3,400 in tax deductions.

For someone in the 10% tax bracket, that means an increase of $340 in the tax refund, but such a person would also qualify for the $1,000 Child Tax Credit AND the Earned income Credit.

But if the child turned 17 in 2007, then the Child Tax Credit does NOT apply.

For someone in the 25% tax bracket, the $3,400 exemption reduces their taxes by $850, but they may make too much money to qualify for the Child Tax Credit. They DEFINITELY make too much money for the Earned Income Credit.

You can go to hrblock.com and use the tax calculator to find out how much you can get back. Hope this helps.

Go ahead; the calculator may factor in the variables I mentioned.