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Personal Exemptions

Navigation:  Home > Tax Law > Personal Exemptions

 

For every exemption you, you get a $3,050 deduction. Exemptions include children, parents, and other dependents. You can also claim an exemption for yourself, provided you are not counted as a dependent on someone elseís tax return. To qualify as an exemption, the dependent must be a relative of some type (though the relative does not have to live with you), and you contribute to more than half of the dependentís support.

For a child to count as a dependent, the child must be under 19 years old, or 24 if a full-time student.

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