Level 15

Get your taxes done using TurboTax

Yes then more of your income will be taxable.  You only can deduct the Standard Deduction of 6,300.  You do not get your own 4,000 personal exemption because they get it.   

Exemptions and deductions are subtracted from your income before the tax is calculated so you get taxed on a lower amount.  But you don't get the exemption.