Key 2011 Exemptions and Deductions

Listed here are key deduction rates for 2011.

Personal Exemptions

The personal exemption for each qualifying dependent in 2011 is:

  2011 2010
Exemption $3,700 $3,650

Note: The exemption phase-out calculation for clients above certain income thresholds does not apply in 2011.

Standard Deductions

Standard Deductions in 2011 for those who do not itemize are presented here. Unlike 2010, most Standard Deductions increase slightly versus last year.

  2011 2010
Single $5,800 $5,700
Married Filing Sep. $5,800 $5,700
Married Filing Joint $11,600 $11,400
Head of Household $8,500 $8,400

 

If 65 or over and/or blind add:

  2011 2010
Single/Head of Household $1,450 $1,400
Married / Surviving Spouse $1,150 $1,100

Note: The deduction phase-out calculation for clients above certain income thresholds does not apply in 2011.

Standard Mileage Rates

The standard mileage rates for 2011 are:

Rate/Mile 1/1-6/30 7/1-12/31
Business Travel $.51 $.555
Medical/Moving $.19 $.235
Charitable Work $.14 $.14