An IRS-allowed reduction in your income for yourself,your spouse,and any dependents that is subtracted before you compute your taxes is called a(n)

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Personal exemptions are allowed deductions from your income for yourself, your spouse, and any dependents. This reduces your taxable income and ultimately the amount of tax you have to pay. Option A is incorrect because itemized exemptions refer to specific deductions, such as charitable donations, that can be claimed instead of the standard deduction. Option B is incorrect because there is no such thing as marital exemptions. Option C is incorrect because there are no separate exemptions for married couples.

An IRS-Allowed Reduction in Your Income for Yourself,your Spouse,and Any