26 C.F.R. § 1.151-4. - § 1.151-4 Amount of Deduction for Each Exemption Under Section 151.

Current as of January 1, 1970

Section 1.151-4 - § 1.151-4 Amount of Deduction for Each Exemption Under Section 151.Section 1.151-4 - § 1.151-4 Amount of Deduction for Each Exemption Under Section 151.

Section 1.151-3 - § 1.151-3 Definitions.Section 1.152-1 - § 1.152-1 General Definition of a Dependent.

§ 1.151-4 Amount of deduction for each exemption under section 151.

The amount allowed as a deduction for each exemption under section 151 is (a) $750 in the case of a taxable year beginning after December 31, 1972; (b) $700 in the case of a taxable year beginning after December 31, 1971, and before January 1, 1973; (c) $650 in the case of a taxable year beginning after December 31, 1970, and before January 1, 1972; (d) $625 in the case of a taxable year beginning after December 31, 1969, and before January 1, 1971; and (e) $600 in the case of a taxable year beginning before January 1, 1970. For special rules in the case of a fiscal year ending after December 31, 1969, and beginning before January 1, 1973, see section 21(d) and the regulations thereunder.

[T.D. 7114, 36 FR 9019, May 18, 1971]

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