Skip to main content
  1. News
  2. Business & Finance
  3. Industry

Seven Facts about Dependants and Exemptions

See also

The IRS has seven facts on these rules to help you file your taxes.
1. Exemptions cut income. There are two types of exemptions: personal exemptions and exemptions for dependants. You can usually deduct $3,900 for each exemption you claim on your 2013 tax return.
2. Personal Exemptions. You can usually claim an exemption for yourself. If you’re married and file a joint return you can also claim one for your spouse. If you file a separate return, you can claim and exemption for your spouse only if your spouse had no gross income, is not filing a return, and was not the dependant of another taxpayer.
3. Exemptions for dependants. A dependant is either your child or a relative that meets certain tests. You can’t claim your spouse as a dependant.
4. Some people don’t qualify. You generally may not claim married persons as dependants if they file a joint return with their spouse.
5. Dependants may have to file. People that you can claim as your dependant may have to file their own federal tax return.
6. No exemption on dependant’s return. If you can claim a person as a dependant, that person can’t claim a personal exemption on his or her own tax return.
7. Exemption phase-out. The $3,900 per exemption is subject to income limits.
Courtesy of the Internal Revenue Service: Issue IRS Tax Tip 2014-22

Advertisement

News

  • Israel, Hamas clash in Gaza
    At least 550 Palestinians have been killed in Gaza in the third week of the war
    Video
    Video
  • Pro-Russia guards
    President Obama criticizes pro-Russian rebels for blocking off the MH17 crash site
    World News
  • National Guard at Texas border
    Texas Gov. Rick Perry sending National Guard troops to the US-Mexico border
    US News
  • Unlikely Putin defender
    The unlikeliest US politician comes to the defense of Russia's president, Vladimir Putin
    Politics
  • iPhone 6 coming soon
    Apple is gearing up for the iPhone 6, orders tens of millions of units
    Tech
  • Gynecologist settlement
    Johns Hopkins agrees to $190M settlement for patients recorded by gynecologist
    Strange News