Am I a dependent or can I claim an exemption for myself?

Personal exemptionPersonal exemptionUnder United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax.

Do I include myself as an exemption?

You can claim a personal exemption for yourself unless someone else can claim you as a dependent. Note that’s if they can claim you, not whether they actually do. If you qualify as someone else’s dependent, you can’t claim the personal exemption even if they don’t actually claim you on their return.

Is exemption the same as dependent?

What’s the difference between the child tax credit and a dependent exemption? An exemption will directly reduce your income. A credit will reduce your tax liability. A dependent exemption is the income you can exclude from taxable income for each of your dependents.

Do I include myself as a dependent?

As long as you qualify, you yourself can be claimed as a dependent, even if you paid your own taxes and filed a tax return. But dependents can’t claim someone else as a dependent. If you and your spouse file joint tax returns, and one of you can be claimed as a dependent, neither of you can claim any dependents.

What does it mean to claim yourself as an exemption?

A personal exemption is an amount of money that you could deduct for yourself, and for each of your dependents, on your tax return. The personal exemption, which was $4,, was the same for all tax filers. Unlike with deductions, the amount of exemptions you could claim did not depend on your expenses.

Who can I claim as exemptions?

Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an exemption for each of their dependents.

How do I claim myself on my taxes?

Just enter your name and SSN in the Personal Information area and complete the rest of the interviews. TT automatically considers your personal exemption in your return unless you indicated that you can be claimed as a dependent on someone else’s return.

Can I claim myself as a dependent and head of household?

A dependent cannot possibly be Head of Household. If you are filing Single or Head of Household then you are claiming your own personal exemption. When you are asked the question about whether you can be claimed as someone else’s dependent, your answer is NO, and then you have “claimed” yourself.