0
As of the 2023 tax year, the personal exemption for dependents, including minors, is not explicitly stated because personal exemptions were eliminated under the Tax Cuts and Jobs Act of 2017. However, dependents can still affect the tax calculations, including eligibility for the Child Tax Credit. It's important to verify current tax laws and consult IRS guidelines or a tax professional for the most accurate information regarding deductions and credits.
What else can I help you with?
What should I put for my personal exemption on my tax return?
As of 2020, the personal exemption has been eliminated from federal tax returns. You do not need to put any amount for personal exemption on your tax return.
What is the difference between the standard deduction and personal exemption when filing taxes?
The standard deduction is a set amount that reduces your taxable income, while the personal exemption is an additional amount you can deduct for yourself and each of your dependents. The standard deduction is a fixed amount set by the government, while the personal exemption amount can vary depending on your filing status and other factors.
What is the amount per child for income taxes?
I am assuming you mean the personal and dependency exemptions for 2009. The exemption amount for 2009 is $3,650.
Do you qualify for the standard deduction and personal exemption on your taxes?
As of 2021, the standard deduction has replaced the personal exemption on federal tax returns. Taxpayers can claim the standard deduction, which is a set amount based on filing status, instead of itemizing deductions.
What is the impact of the married personal exemption on tax deductions for couples filing jointly?
The married personal exemption allows couples filing jointly to deduct a certain amount from their taxable income, reducing the amount of tax they owe. This can result in lower overall tax liability for married couples compared to individuals filing separately.
What is the exemption for myself?
The exemption for yourself typically refers to a tax deduction that allows you to reduce your taxable income. In the context of personal taxes, this could mean claiming a personal exemption for yourself on your tax return, which reduces the amount of income that is subject to tax. However, the personal exemption was eliminated for tax years 2018 through 2025 under the Tax Cuts and Jobs Act, so it's important to check the current tax regulations or consult a tax professional for specific details.
I am doing my tax return and i am claming my lilttle brother who is in Mexico and i have only earned 2930 who much who i get in my tax return?
Each exemption reduced the taxable income by the amount of the exemption. For 2008, the exemption amount is $3,500. They are two types of exemptions personal exemptions and dependency exemptions. The personal exemption is for the tax payer and spouse. Dependency exemptions are for those who pass the IRS dependency test. According to the information provided you may not be able to claim a dependency exemption for your brother, therefore your refund will be whatever federal tax withholdings is shown in the W2 box 2, and if you are over 25 years of age and have a social security number you may qualified for an earned income credit in the amount of $224.00. Good luck
How much is the exemption for a new baby on your income tax refund?
For a qualifying child dependency exemption the amount is 3650 for each exemption for the year 2009
How much is the personal dependent exemption on IRS personal income tax form?
3700
Can you take both the standard deduction and personal exemption on your tax return?
No, as of 2018, the personal exemption has been suspended, so you can only take the standard deduction on your tax return.
How much is the IRS personal deduction?
For taxpayer using the single filing status the 2009 exemption amount is 3650 and the standard deduction amount is 5750 for a total amount of 9350 free of federal income tax for the tax year 2009.
Can you claim your child if they file taxes too?
Yes as long as all of the rules are met by and the child to be your qualifying child dependent on your income tax return. Dependent not allowed a personal exemption. If you can claim an exemption for your dependent, the dependent cannot claim his or her own personal exemption on his or her own tax return. This is true even if you do not claim the dependent's exemption on your return or if the exemption will be reduced under the phaseout rule described under Phaseout of Exemptions, later. Make sure that the dependent indicates on the 1040 income tax return that him/her is using indicates this and cannot claim the 3650 exemption amount on the income tax return that is being filed.
