Personal Exemptions

The following provision changed due to H.R. 1, One Big Beautiful Bill Act: Eliminates the deduction for personal exemptions except as noted below.

For tax years (TY) beginning before January 1, 2029, an additional deduction of $6,000 for taxpayers age 65 or older is allowed. The deduction starts phasing out when Modified Adjusted Gross Income (MAGI) exceeds $75,000 ($150,000 if Married Filing Jointly (MFJ)). Taxpayer (and spouse if MFJ) must provide a valid Social Security Number (SSN) on the tax return.