Asked by Alyssa Clark on May 12, 2024
Verified
Personal exemptions are for the taxpayer and spouse.
Personal Exemptions
Deductions allowed by the IRS on income tax returns for the taxpayer and dependents, phased out in 2018 under the Tax Cuts and Jobs Act.
- Understand the tax consequences of dependency status and qualification for deductions.
Verified Answer
PW
phillisia whittakerMay 18, 2024
Final Answer :
True
Explanation :
Personal exemptions can be claimed for the taxpayer, their spouse, and any dependents.
Learning Objectives
- Understand the tax consequences of dependency status and qualification for deductions.