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Retirement tax questions
[Edited 01-08-2019] For tax years prior to 2018, everyone (unless they are claimed as a dependent on someone else's return) gets a "personal exemption" on their tax return that reduces their taxable income. For 2016, the personal exemption is $4,050 per person. So, if you are filing jointly, you and your spouse get that exemption ($4,050 x 2 = $8,100). The exemption applies to the taxpayer, spouse, and dependent children.
‎June 4, 2019
2:48 PM