Personal exemption

PERSONAL EXEMPTION

Individuals are entitled to claim a personal exemption for themselves and any dependents they support to reduce their taxable income, and thus their taxes.

Tax year

Personal exemption amount

2009

$3,650

2010

$3,650

2011

$3,700

2012

$3,800

2013

$3,900

2014

$3,950

2015

$4,000

2016

$4,050

2017

$4,050


Phaseout of Exemptions


You lose at least part of the benefit of your exemptions if your adjusted gross income (AGI) is above a certain amount. For 2017, the phaseout begins at the following amounts.

Filing status

AGI level that reduces exemption amount

Married filing separately

$156,900

Single

$261,500

Head of household

$287,650

Married filing jointly

$313,800

You must reduce the dollar amount of your exemptions by 2% for each $2,500, or part of $2,500 ($1,250 if you are married filing separately), that your AGI exceeds the amount shown above for your filing status.