Personal Exemptions
2008 Changes The amount you can deduct for each exemption has increased to $3,500 for 2008. You lose part of the benefit of your exemptions… Read More »Personal Exemptions
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New Rules for Children of Divorced or Separated Parents
Revocation of release of claim to an exemption. For tax years beginning after July 2, 2008 (the 2009 calendar year for most taxpayers), new rules… Read More »New Rules for Children of Divorced or Separated Parents