The exemption deduction will be on line 42 of the 1040 form. Therefore, your adjusted gross income on line 38 will not be reduced yet by your deductions (standard or itemized) or the exemptions. On line 42 of the 1040 form, you should see a deduction of $8,100 for the two of you.
A screenshot of Form 1040 line 42 is attached.
