Brief Personal Exemption Phaseout
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The Personal Exemption Phaseout reduces personal exemptions ($4,000 in 2015) for taxpayers and their dependents by 2 percent for each $2,500 (or part of $2,500) that adjusted gross income exceeds the threshold for the relevant filing status.
Research Areas Taxes and budgets
Tags Campaigns, proposals, and reforms Federal tax issues and reform proposals
Policy Centers Urban-Brookings Tax Policy Center