What was the exemption amount for 2015?
Table of Contents
$4,000
Exemption amount. It is $4,000 for 2015.
How much is the personal exemption for 2016?
$4,050
In 2016, the personal exemption was $4,050. Thus, a married couple with three children received a maximum exemption of $20,250, or $4,050 for each of the five family members. However, the exemptions phase out for wealthier filers.
How much was the personal exemption?
Personal Exemptions: The Basics For tax year 2017 (the taxes you filed in 2018), the personal exemption was $4,050 per person. The personal exemption was available to all taxpayers, with a couple of notable exceptions. If someone else could claim you as a dependent, you couldn’t claim the personal exemption.
What are the federal tax brackets for 2015?
How We Make Money
| Tax rate | Single | Head of household |
|---|---|---|
| 10% | Up to $9,225 | Up to $13,150 |
| 15% | $9,226 to $37,450 | $13,151 to $50,200 |
| 25% | $37,451 to $90,750 | $50,201 to $129,600 |
| 28% | $90,751 to $189,300 | $129,601 to $209,850 |
What is the exemption amount for 2017?
The personal exemption amount for 2017 is $4,050. However, the total personal exemptions to which you’re entitled will be phased out (i.e., reduced and eventually eliminated) as your adjusted gross income (i.e., the last line of the first page of your Form 1040) moves through a certain range.
How much is each exemption worth 2021?
The 2021 amount for one withholding allowance on an annual basis is $4,300.
How much is each exemption worth 2020?
The personal and senior exemption amount for single, married/RDP filing separately, and head of household taxpayers will increase from $122 to $124 for the 2020 tax year 2020. For joint or surviving spouse taxpayers, the personal and senior exemption credit will increase from $244 to $248 for the tax year 2020.
What was the highest federal tax rate in 2015?
Married Individuals Filing Separate Returns
| Taxable Income | 2015 Tax |
|---|---|
| Over $9,225 but not over $37,450 | $922.50 plus 15% of the excess over $9,225 |
| Over $37,450 but not over $75,600 | $5,156.25 plus 25% of the excess over $37,450 |
| Over $75,600 but not over $115,225 | $14,693.75 plus 28% of the excess over $75,600 |