Personal exemption amount
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.
AGI level that reduces exemption amount
Married filing separately
Head of household
Married filing jointly
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.
Individuals are entitled to claim a personal exemption for themselves and any dependents they support to reduce their taxable income, and thus their taxes.