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You are actually only required to report income. You are not required to take deductions, so save yourself the trouble of finding a special formula. Simply don't claim them.
If you are trying to reduce your income tax withholding on a W2, which is a little more common, the you simply need to claim more exemptions. Tell your employer you would like a new form W-4, or perhaps just give the payroll person a shout, "Adjust my exemptions to X, please!"
It could be dangerous... there are tax tables and your withholding will be based on exemptions, so for you then 2 would be the next one up.
If you received a large refund because of the earned income credit, there may be better methods. Make sure your return will be the same from year to year, or better yet, consider some quick tax planning before year end, to make sure you are still alright in terms of your withholding.