My exemptions on my Form 1040 (line 42) are less than last year, but my family has not changed so I was expecting to see the same number. Why is it different?

crs3rd1 — Sat, 01 Jun 2019 06:42:21 GMT

First, check the front of your 1040 (lines 6a-d) and make...

AnthonyC — Sat, 01 Jun 2019 06:42:23 GMT

First, check the front of your 1040 (lines 6a-d) and make sure all your dependents are correctly showing. Your total number of exemptions should be on line 6d.

Also, exemptions are subject to a phase out, which means when your adjusted gross income (AGI) hits a certain level, you have to start to reducing the amount of exemption you can take.

For 2016, the phaseout begins at the following amounts by filing status:

Married filing separately $155,650

Single $259,400

Head of household $285,350

Married filing jointly $311,300

Qualifying widow(er) $311,300

You must reduce the dollar amount of your exemptions by 2% for each $2,500, or part of $2,500 ($1,250 if you are married filing separately), that your AGI exceeds the amount shown above for your filing status. If your AGI exceeds the amount shown above by more than $122,500 ($61,250 if married filing separately), the amount of your deduction for exemptions is reduced to zero.

topic My exemptions on my Form 1040 (line 42) are less than last year, but my family has not changed so I was expecting to see the same number. Why is it different? in Get your taxes done using TurboTax

My exemptions on my Form 1040 (line 42) are less than last year, but my family has not changed so I was expecting to see the same number. Why is it different?

First, check the front of your 1040 (lines 6a-d) and make...