Asked by Juanita Soriano on Jul 11, 2024
Verified
How many personal exemptions can the taxpayer claim? What is the amount of the personal exemption for 2017?
Personal Exemptions
Deductions allowed by the IRS on income tax for the taxpayer and dependents, though largely eliminated for tax years 2018 through 2025.
Amount
A quantitative measure or sum of money.
- Acquire knowledge of the conditions for exemptions concerning qualifying children and relatives, together with the required tests to be passed.
Verified Answer
JW
Jason WoodwardJul 12, 2024
Final Answer :
The taxpayer can only claim a personal exemption for himself or herself and his or her spouse (if married).The amount for 2017 is $4,050 for each personal exemption.
Learning Objectives
- Acquire knowledge of the conditions for exemptions concerning qualifying children and relatives, together with the required tests to be passed.
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