The personal exemption amount is indexed annually for inflation. For tax year 2013, the personal exemption amount is $3,900. For a personal exemption amounts in other tax years, see the table below.
If someone else can claim you as a dependent, then you cannot claim your own personal exemption. Also, taxpayers cannot claim as a dependent anyone who files a joint tax return with his or her spouse.
Spouses filing a joint return can claim two personal exemptions, one for each spouse, even if one spouse earns all the income. If one spouse is supported by someone else, then that other person can claim the dependent and the personal exemption only if the spouses file separate returns.
For example, John and Mary are married. Mary lived with her parents all year while John was serving in the military. Mary was a full-time student and did not have any income. Mary's parents can claim her as a dependent only if John and Mary file separate tax returns. If John and Mary filing a joint tax return, Mary's parents cannot claim her as a dependent.
Dollar Amount Reduced Based on IncomePersonal exemptions are subject to phase-out limits, called the personal exemption phaseout (or PEP).
The phase-out limits did not apply for the years 2010, 2011 or 2012. The limitations on personal exemptions will take effect again in 2013 unless further legislation is passed to address this issue.
Phaseout Range for Personal Exemptions for 2013
|Filing Status||Phaseout Begins||Phaseout Ends|
|Married Filing Jointly||300,000||422,500|
|Head of Household||275,000||397,500|
|Married Filing Separately||150,000||211,250|
(Source: Revenue Procedure 2013-15)