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J.K. Lasser's Your Income Tax 2017 by J.K. Lasser Institute

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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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