Exemption Amount 2011 - The amount you can deduct for each exemption has increased from $3,700 in 2005 to $3,650 in 2010.
You lose all or part of the benefit of your exemptions if your adjusted gross income is above a certain amount. The amount at which the phaseout begins depends on your filing status. For 2006, the phaseout begins at:
$125,100 for married persons filing separately,
$166,800 for single individuals,
$208,500 for heads of household, and
$250,200 for married persons filing jointly or qualifying widow(er)s.
If your adjusted gross income is above the amount for your filing status, use the Deduction for Exemptions Worksheet in the Form 1040 instructions to figure the amount you can deduct for exemptions.