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We are married in 2006,filling jointly with one son, 11 years old, as dependent, why I have $0 in my exemption amount? The exemption amount in 2017 is $12150.

I used turbo tax for 5 years, nothing changed about our personal information.  We always had exemption amount over $11,000 every year.

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We are married in 2006,filling jointly with one son, 11 years old, as dependent, why I have $0 in my exemption amount? The exemption amount in 2017 is $12150.

Personal exemptions were eliminated by the new tax law.  Now you have a higher standard deduction instead.  Your standard deduction lowers the amount of income you are taxed on.


Your standard deduction lowers your taxable income.  It is not a refund 

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older

Look at line 8 of your Form 1040 to see your standard or itemized deductions.


https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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2 Replies
Carl
Level 15

We are married in 2006,filling jointly with one son, 11 years old, as dependent, why I have $0 in my exemption amount? The exemption amount in 2017 is $12150.

Personal expemptions and dependent exemptions were eliminated entirely starting in 2018. However, the standard deduction has doubled. So you are getting a $24K standard deduction since you're filing joint.

We are married in 2006,filling jointly with one son, 11 years old, as dependent, why I have $0 in my exemption amount? The exemption amount in 2017 is $12150.

Personal exemptions were eliminated by the new tax law.  Now you have a higher standard deduction instead.  Your standard deduction lowers the amount of income you are taxed on.


Your standard deduction lowers your taxable income.  It is not a refund 

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older

Look at line 8 of your Form 1040 to see your standard or itemized deductions.


https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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