Deductions from adjusted gross income based on the number of persons supported by the taxpayer's income.

Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year.

an allowance for each person dependent on the taxpayer's income

Amounts of certain types of interest, depreciation, losses and other items that may be subtracted from gross income for tax purposes. Personal exemptions are specified dollar amounts that may be taken for the taxpayer, spouse, and qualified dependents. Additional exemptions may be taken for blindness and for being age 65 or over.

Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. While each is worth the same amount, different rules apply to each.

You can claim a personal exemption for yourself. On joint returns a personal exemption is claimed for each spouse. You also get an exemption for each dependent you claim on your return. Each exemption reduces taxable income by $3,300 in 2006 and, we project by $3,400 in 2007. (The value of exemptions is partially phased out at higher income levels, beginning, for example, when adjusted gross income passes $225,750 on joint returns in 2006.)