Question

In 2016, what are the personal and dependency exemptions for single taxpayers?

1) $6,300
2) $5,000
3) $7,500
4) $8,000

Answer 1

The personal and dependency exemptions for single taxpayers in 2016 were $4,050 each, not matching the options provided in the question.

Step-by-step explanation:

In 2016, the personal exemption for single taxpayers was $4,050, and the same amount was applied for each dependency exemption.

Therefore, none of the options provided (1) $6,300 2) $5,000 3) $7,500 4) $8,000) accurately state the personal and dependency exemptions for single taxpayers in that year.

Instead, taxpayers could deduct $4,050 for themselves and an additional $4,050 for each dependent they claimed, subject to phase-out limits based on their adjusted gross income.