At what level is the exemption phased out?
At what level is the exemption phased out?
Deduction for personal exemptions suspended For 2018 (through 2025), you can’t claim a personal exemption deduction for yourself, your spouse, or your dependents. (The personal exemption amount will appear as zero in the OLT software)
The personal exemption for tax year 2017 remains $4,050. However, the exemption is subject to a phase-out. 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 | $155,650 | ||
| Single | 259,400 | ||
| Head of household | 285,350 | ||
| Married filing jointly | 311,300 | ||
| Qualifying widow(er) | 311,300 | ||
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