The personal exemption amount for tax year 2014 was $3,950, says the U.S. Tax Center. When preparing a Federal tax return, one personal exemption is allowed for the taxpayer and one for his spouse. If the taxpayer can be declared as a dependent by someone else, no exemption is allowed.
For tax year 2014, personal exemption was phased out for taxpayers with $254,200 in adjusted gross income, and married joint filers with an adjusted gross income of $305,050. There was no personal exemption amount for individuals with an adjusted gross income of $376,700 for individuals and $427,550 for married joint filers, explains the U.S. Tax Center.
Taxpayers can generally claim an exemption for each dependent he claims on his tax return, explains the Internal Revenue Service. A qualifying dependent is a child or qualifying relative. Taxpayers need to provide the Social Security number of each dependent for which he is taking the personal exemption.
If a taxpayer is married but filing separate returns, the taxpayer can claim the exemption for his spouse only if his spouse had no gross income, is not filing a tax return and was not the dependent of another taxpayer. Taxpayers can claim an exemption for their spouses even if they are non-resident aliens, but the spouses must have no gross income for U.S. taxing purposes, must not be filing returns and must not be dependents of other taxpayers.