Chapter 21 Personal Exemptions
Each personal exemption you claim on your 2016 return is the equivalent of a $4,050 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 2016, you may lose part or even all of your deduction for exemptions under a phaseout rule (21.12).
| Number of Exemptions | Deduction Allowed |
1 |
$ 4,050 |
2 |
8,100 |
3 |
12,150 |
4 |
16,200 |
5 |
20,250 |
6 |
24,300 |
21.1 How Many Exemptions May You Claim?
On your 2016 return, you may claim a $4,050 exemption for each of the following, provided you are not subject to the phaseout rule for high-income taxpayers (21.12):
- Yourself. You claim an exemption for yourself, unless you can be claimed as a dependent of another taxpayer. If someone else could claim you as a dependent for 2016, you may not claim a personal exemption for yourself on your own return; this is true even if the other ...
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