For 2017, our "Exemption Amount" was $8,100. For 2018, it shows $0. Where and how is the personal exemption determined, utilized for calculations, and printed or shown?

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1 Best answer

Intuit Alumni

Jun 4, 2019 4:16:36 PM

The tax law change, the Tax Cuts and Jobs Act (TCJA) has eliminated both personal and dependent exemptions.

https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-tax-exemptions/L5xCsvZKO

Intuit Alumni

Jun 4, 2019 4:16:36 PM

The tax law change, the Tax Cuts and Jobs Act (TCJA) has eliminated both personal and dependent exemptions.

https://turbotax.intuit.com/tax-tips/irs-tax-return/what-are-tax-exemptions/L5xCsvZKO

Level 2

Jun 4, 2019 4:16:36 PM

I've never before had to pay as much in taxes as I do this year. I've paid taxes every year for 53 years, since I was old enough to get a work permit. My total income went up by $3000 this year but my taxes owed went up by $4000. Not to mention the increase in health care premiums. The TCJA must only help the very rich and very poor.

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For 2017, our "Exemption Amount" was $8,100. For 2018, it shows $0. Where and how is the personal exemption determined, utilized for calculations, and printed or shown?