What is the amount of the Personal exemption Phase out for year 2013?
Answer:
Individuals are entitled to claim a personal exemption for themselves and any dependents they support.
The personal exemption reduces your taxable income. The personal exemption amount is indexed annually for inflation. The 2013 phase-out begins with AGI over $300,000 for married filing joint returns and over $250,000 for non married filing joint returns.
For tax year 2013, the personal exemption amount is $3,900.
There was no phase out in years 2012 and 2011.
The personal exemption reduces your taxable income. The personal exemption amount is indexed annually for inflation. The 2013 phase-out begins with AGI over $300,000 for married filing joint returns and over $250,000 for non married filing joint returns.
For tax year 2013, the personal exemption amount is $3,900.
There was no phase out in years 2012 and 2011.
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