In 2014, taxable income was reduced by ______ for each exemption claimed.

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In 2014, the value of each exemption claimed on an individual's tax return was $3,950. This amount was subtracted from the taxable income before calculating the individual's tax liability. For example, if an individual had a taxable income of $50,000 and claimed two exemptions (for themselves and a dependent), their taxable income would be reduced by $7,900 ($3,950 x 2) to $42,100 before calculating the tax owed.

In 2014, Taxable Income Was Reduced by ______ for Each