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Personal TAX Exemptions

If you file a return, you generally can claim an exemption for yourself, and if you're married, one for your spouse. But you can't claim your exemption if you're the dependent of another person, even if that person doesn't claim an exemption for you.

Individuals are entitled to claim a personal exemption for themselves and any dependents they support. This exemption reduces your taxable income, so you end up paying taxes on less income.

The personal exemption amount is indexed annually for inflation. For tax year 2010, the personal exemption amount is $3,650

2011: $3,650
2010: $3,650

Dollar Amounts are Reduced Based on Income
Personal exemptions are subject to phase-out limits.

Taxpayers will lose some of their personal exemptions if adjusted gross income exceeds certain threshold amounts. Taxpayers can lose at most two-thirds of their personal exemptions. Use a worksheet in IRS Publication 501 to calculate your personal exemption amount if your adjusted gross income is over the threshold amounts shown below.

The phase-out limits will not apply for the year 2011.
Phaseout Range for Personal Exemptions for 2010

Filing Status

Phaseout Begins

Phaseout Ends

Married Filing Jointly

250,200 

372,700

Qualifying Widow(er)

250,200

372,700

Head of Household

208,500

331,000

Single

166,800

289,300

Married Filing Separately

125,100

186,350

Publication 501, Exemptions, Standard Deduction

You lose part of the benefit of your exemptions if your adjusted gross income is above a certain amount.

There are 2 types of dependents: qualifying children and qualifying relatives.

Whether the person you want to claim as a dependent is a qualifying child or qualifying relative, that person generally cannot file a joint return and that person generally must be a U.S. citizen or resident. See IRS Publication 17 for exceptions.

See IRS Publication 501 for details about these rules, including exceptions that apply.

 

 

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