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Personal exemption

Type of tax exemption

Nº Q1313706 ★★★

Rara · Saberes

Personal exemption

Type of tax exemption

Texto en inglés

Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations.

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En Wikipedia

Texto en inglés Aún no hay artículo en tu idioma: extracto en inglés.

Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations. The personal exemption amount is adjusted each year for inflation. The Tax Cuts and Jobs Act of 2017 eliminated personal exemptions for tax years 2018 through 2025, and the One Big Beautiful Bill Act made the elimination permanent except for taxpayers aged 65 and up. The exemption is composed of personal exemptions for the individual taxpayer and, as appropriate, the taxpayer's spouse and dependents, as provided in Internal Revenue Code at 26 U.S.C. § 151.

Texto: Wikipedia en inglés, CC BY-SA 4.0. ·

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