Personal Exemption Resources and More...
Personal Exemptions: Claiming Personal Exemptions for Yourself and Your Dependents
Taxpayers are entitled to claim one personal exemption for themselves and each dependent....(Continue Reading)
Personal Exemptions - Preparing Your 1040 Step 6
Personal exemptions lower your taxable income. Find out your personal exemptions and the phase out limits on exemptions....(Continue Reading)
Personal Exemptions and Standard Deduction Increase for 2006 Tax Year
The IRS announced changes in various inflation-related tax benefits for the 2006 tax year. The following changes will apply to 2006 returns filed in 2007: Personal exemption for yourself, spouse, and dependents, increased to $3,300. Standard deductio...(Continue Reading)
Dependents & Personal Exemptions - Preparing Your 1040 Step 3
You may claim a personal exemption for yourself and for your dependents. You cannot claim an exemption for yourself if someone else can claim you as a dependent. You can claim an exemption for each dependent listed on your tax return. You are entitle...(Continue Reading)
Claiming Dependents & Personal Exemptions
You may claim a personal exemption for yourself and for your dependents. You cannot claim an exemption for yourself if someone else can claim you as a dependent. You can claim an exemption for each dependent listed on your tax......(Continue Reading)
Tax Deduction for Supporting Someone in Prison? - Questions from Readers
Dear Tax Guide, Can I take a tax deduction for the money I send to my son in prison? You cannot take a tax deduction for money spent on your son. But if your son lived with you for more than 6 months of the year before being incarcerated, you may be...(Continue Reading)
File Your Taxes, Step 3: Dependents
You may claim a personal exemption for yourself and for your dependents. You cannot claim an exemption for yourself if someone else can claim you as a dependent. You can claim an exemption for each dependent listed on your tax......(Continue Reading)
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Recommended Personal Exemption Site:
Personal Exemptions
Exemption amount along with phase-out ranges for each filing status and brief explanation of law changes to come.
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