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2016 Exemptions and Deductions

Personal and dependency exemptions $4,050 each person

Phase-out ranges: when adjusted gross income reaches certain levels, personal and dependency exemptions are phased out, effectively increasing the tax burden. The 2016 phase-out begins at the following threshold amounts.

Single taxpayers $259,400
Married filing jointly (1) $311,300
Married filing separately $155,650
Heads of households $285,350

(1) includes surviving spouses

Standard Deductions: in lieu of itemizing deductions, standard deductions are available when more beneficial than itemized deductions.

Single taxpayers $6,300
Married filing jointly (1) $12,600
Married filing separately $6,300
Heads of households $9,300
Dependents who need to file (but could be up to $6,300 depending on the amount of their earned income) $1,050

(1) includes surviving spouses

Taxpayers who are blind or age 65 and over may obtain an additional standard deduction of $1,250 if married (whether filing jointly or separately) or $1,550 if single or head of household. If a taxpayer is both blind and over age 65, double these amounts.

Reduction of itemized deductions: the allowable amount of itemized deductions will be reduced if adjusted gross income in 2016 is more than:

Single taxpayers $259,400
Married filing jointly (1) $311,300
Married filing separately $155,650
Heads of households $285,350

(1) includes surviving spouses