Dear Mike,

You qualify for an exemption by being alive and breathing at any time during the tax year, even if only for a minute.

It's a fixed amount that the tax laws allow you to deduct from your income simply for being alive.

You'll find the current amount at:
http://www.smbiz.com/sbrl001.html#pesd

Now, if you want to know about getting to use an exemption for someone else...well, that's a whole
other question.

And oh yes, sometimes, if someone else is footing the bill for your lifestyle (i.e. parents), they're apt to get your exemption instead of you.


Best wishes,

Eva Rosenberg, MBA, EA