What PERSONAL AND DEPENDENT EXEMPTIONS means: The tax code allows an exemption for each taxpayer and spouse (if a joint return is filed) who is not eligible to be claimed as a dependent on another taxpayer's return and for each dependent. The exemption amount is phased out for taxpayers whose adjusted gross income exceed a specified amount. See our Exemption Allowance rate table for the current exemption amount and AGI figures.
- Definition Principal Residence:
- Dictionary residence is generally the home in which a taxoayer lives most of the time. A taxpayer who sells a principal residence that he or she owned and lived in for at least two years in the five-year period personal and dependent exemptions definition.
- Definition Principal Payments:
- Dictionary The portion of a loan payment that reduces the outstanding balance of the loan personal and dependent exemptions explain.
- Definition Partnership:
- Dictionary in which two or more persons join their money and skills in conducting the business. Partnerships must file a return but are not subject to tax. Each partner reports his or her share of the personal and dependent exemptions what is.
- Definition Pension/Annuity Starting Date:
- Dictionary The first day of the first period for which an amount is due as a pension/annuity payment under the contract personal and dependent exemptions meaning.
How works Personal and Dependent meaning in Tax definitions P .
