Taxpayers are allowed to deduct more for each personal exemption they claim than for each dependency exemption they claim.

Name: Taxpayers are allowed to deduct more for each personal exemption they claim than for each dependency exemption they claim.
Brand: Quizplus
Rating: 4.7 (44 reviews)

Question

Quizplus · Accepted Answer

Personal exemptions and dependency exemptions are essentially the same; they were combined into a single exemption amount before being suspended by the Tax Cuts and Jobs Act from 2018 to 2025.

Taxpayers Are Allowed to Deduct More for Each Personal Exemption