Standard Deductions/Personal Exemption for 2008 Tax Year

Personal exemption:$3,500 per person   (none if filing as a dependent)

Standard deduction:   if age 65/over; blind
MFJ, QW $10,900 + $1,050
HH $8,000 + $1,350
S $5,450 + $1,350
MFS $5,450 + $1,050
Dependent: greater of: ($900) or (earned income +$300)
  up to standard deduction


New for 2008 Other Tax Adjustments