{"id":193,"date":"2016-02-15T05:35:08","date_gmt":"2016-02-15T05:35:08","guid":{"rendered":"http:\/\/www.irstaxapp.com\/?page_id=193"},"modified":"2018-12-28T08:39:02","modified_gmt":"2018-12-28T08:39:02","slug":"personal-exmption-phaseout-calculator","status":"publish","type":"page","link":"https:\/\/www.irstaxapp.com\/personal-exmption-phaseout-calculator\/","title":{"rendered":"Personal Exemption Phaseout Calculator"},"content":{"rendered":"<p><span style=\"color: #ff0000;\"><strong>TCJA has abolished the personal exemption from year 2018 to 2025 . The last tax year , you could claim personal exemption\u00a0 of $ 4050 was the year 2017 .<\/strong><\/span><\/p>\n<p>So the following calculator has no relevance now !<\/p>\n<p>The personal exemption for the tax year 2015 is fixed at $ 4000 for an individual. However, the <a href=\"https:\/\/www.irstaxapp.com\/hrf_faq\/what-is-personal-exemption-phase-out\/\" target=\"_blank\" rel=\"noopener\">personal exemption phaseou<\/a>t rules discards part of exemptions as the Adjusted Gross Income goes up . There is formula how the exemption phaseout shall be computed . Basically , the phaseout starts after AGI starts climbing from the basic threshold fixed for phaseout program. For the tax year 2015, the threshold are fixed as under :<!--more--><\/p>\n<p><strong>Filing Status \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0AGI Level That Reduces<\/strong><br \/>\n<strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Exemption Amount<\/strong><br \/>\nMarried filing separately \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$156,900<br \/>\nSingle \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$ 261,500<br \/>\nHead of household \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $287,650<br \/>\nMarried filing jointly \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$313,800<\/p>\n<h2>Calculator for Personal Exemption Phaseout<\/h2>\n<table id=\"hasIframe\" style=\"width: 600px; height: 600px;\">\n<tbody>\n<tr>\n<td style=\"border: 0px; padding: 0px;\"><iframe loading=\"lazy\" src=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/ssc\/phaseoutweb\/index.htm\" width=\"100%\" height=\"100%\"><\/iframe><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>TCJA has abolished the personal exemption from year 2018 to 2025 . The last tax year , you could claim personal exemption\u00a0 of $ 4050 was the year 2017 . So the following calculator has no relevance now ! The personal exemption for the tax year 2015 is fixed at $ 4000 for an individual. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/pages\/193"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=193"}],"version-history":[{"count":0,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/pages\/193\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}