Each personal exemption you claim on your 2013 return is the equivalent of a $3,900 deduction. Exemptions for children, parents, and other dependents are allowed if the tests in this chapter are met.
If you have a high adjusted gross income for 2013, you may lose part or even all of your deduction for exemptions under the new phaseout rule (21.12).
|Number of Exemptions||Deduction Allowed|
On your 2013 return, you may claim a $3,900 exemption for each of the following, provided you are not subject to the phaseout rule for high-income taxpayers (21.12):