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.)
Need Professional Help?
If you need help with "Inflation Adjustments - 2014" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.