By Nathan Vinson, Attorney English, Lucas, Priest and Owsley, LLP Photograph 047 by Lauren Mancke found on Each year, the IRS sets dollar amounts for specific types of exemptions. Usually, these don’t change much - $100 here, $50 here, etc. You’ll need these numbers as you do your taxes this year. The personal exemption amount for 2016 taxes is $6,300 for an individual or for a married couple filing separately (so that’s per person). As you’d expect, married filing jointly is twice that at $12,600. Head of households can claim $9,300, and surviving spouse $12,600. For anyone who takes the standard deduction and doesn’t itemize, that is the amount you’ll claim. However, the exemption is subject to a phase-out that begins with adjusted gross incomes of $259,400 ($311,300 for married couples filing jointly). It phases out completely at $381,900 ($433,800 for married couples filing jointly.) Forbes published an extensive piece that goes into more detail, including tax tables, which you can read here. Read More