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Need Some Deductions for 2012?
Don't overlook these!
Personal Exemption:
- 2012: $3,800 (no phaseout)
- 2011: $3,700 (no phaseout)
- 2010: $3,650 (no phaseout)
Personal Exemption Not Subject to Phaseout
For tax years 2012, 2011 and 2010, you may claim the full deduction listed above for each personal exemption regardless of your income.