IRS Pub. 17, Your Federal Income Tax
The amount you can claim as a deduction for exemptions is phased out once your
adjusted gross income (AGI) goes above a certain level for your filing status. These
levels are as follows:
Filing Status
|
AGI Level Which Reduces Exemption
Amount |
| Married filing separately |
$93,400 |
| Single |
124,500 |
| Head of household |
155,650 |
| Married filing jointly |
186,800 |
| Qualifying widow(er) |
186,800 |
You must reduce the dollar amount of your exemptions by 2% for each $2,500, or
part of $2,500 ($1,250 if you are married filing separately), that your AGI exceeds the
amount shown for your filing status. If your AGI exceeds the amount shown by more than
$122,500 ($61,250 if married filing separately), the amount of your deduction for
exemptions is reduced to zero.
If your AGI exceeds the level for your filing status, use the Deduction for
Exemptions Worksheet in the instructions for Form 1040 to figure the amount of your
deduction for exemptions.
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