H and W are married with twins, eight years of age.H and W can elect to claim either exemption deductions for each of their dependents or a child tax credit for each child but not both exemptions and credits.

Question

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The exemption deductions for dependents were eliminated by the Tax Cuts and Jobs Act for tax years 2018 through 2025. However, the child tax credit was expanded, allowing parents to claim a credit for each qualifying child, without an option for exemption deductions for dependents during these years.

H and W Are Married with Twins, Eight Years of Age.H