Inflation Adjustments - 2014

2014 personal exemption amounts


The personal exemption rises to $3,950, up from the 2013 exemption of $3,900.
However, the exemption is subject to a phase-out that begins with adjusted gross incomes of $254,200 ($305,050 for married couples filing jointly).
It phases out completely at $376,700 ($427,550 for married couples filing jointly.)
Answer Provided by: CPAdirectory

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