Asked by Carley Lambeth on May 25, 2024
Verified
What was the amount of the personal exemption for 2017?
A) $3,900.
B) $4,000.
C) $4,100.
D) $4,050.
Personal Exemption
A deduction allowed by the IRS from taxable income for the taxpayer and each qualified dependent, diminishing until eliminated in tax year 2018 under the Tax Cuts and Jobs Act.
- Gain insight into the guidelines and perks of dependency and personal tax exemptions.
Verified Answer
TW
Learning Objectives
- Gain insight into the guidelines and perks of dependency and personal tax exemptions.