Tax Deductions and Credits

Historical Comparisons of Standard Deductions and Personal Exemptions

Written by TurboTaxLisa
Published Feb 8, 2012 - [Updated Sep 7, 2017]
0 min read

Throughout history the IRS continues to give us a little break on our taxes by adjusting the standard deduction and personal exemption each year for inflation. See how these deductions have increased throughout the years with our infographic comparison.

[intuit_tt_infographic id=9375]

[tt_share_code url=”http://blog-turbotax-intuit-com-prelaunch.go-vip.net/wp-content/uploads/2012/02/standard-deduction-personal-exemption-infographic.png” width=”620″ height=”1877″ title=”standard deductions personal exemptions” alt=”standard deductions personal exemptions”]

Lisa has over 20 years of experience in tax preparation. Her success is attributed to being able to interpret tax laws and help clients better understand them. She has held positions as a public auditor, controller, and operations manager. Lisa has appeared on the Steve Harvey Show, the Ellen Show, and major news broadcast to break down tax laws and help taxpayers understand what tax laws mean to them. For Lisa, getting timely and accurate information out to taxpayers to help them keep more of their money is paramount. More from Lisa Greene-Lewis

One response to “Historical Comparisons of Standard Deductions and Personal Exemptions”

Sam Hourmouzis Jr says:

February 2, 2014 at 10:36 pm

I am a US Army veteran with 20 years active service. I have a 100 % Disability compensation from the VA and I also draw my Retired pay. My wife is also Disabled from Social Security. I would like to know what exemptions I can use to draw the most monies from the tax people. Can you please help me? I am 62 years old and my wife is 61 years old.

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