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Personal Exemption Changes Under Tax Law

Posted on 07/03/2025 ← Back to TaxBert's Tax Talk

Does the new law change the personal exemption?

Yes, the new law permanently terminates the personal exemption deduction, with a limited exception for seniors aged 65 or older from 2025-2028 who can claim a $6,000 deduction subject to income phaseouts[1].

WebLibrary Citations

[1] - What's New Early Edition - One Big Beautiful Bill Act (OBBBA) - (Page 5-4)

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Personal Exemption Changes Under Tax Law

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