Matt Slay wrote:

- quote -

$3,050. It usually increases $50 per year, minimum. As for
the AGI, that doesn't increase by a dollar amount but a
percentage.

- quote -

It will stay at $1,000.

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"Matt Slay" <mattslay[at]charter.net> wrote:

- quote -

Exemptions are $3,050 for 2003. Exemptions begin to
phase out at:

$209,250 Married Filing Joint
$174,700 Head of Household
$139,500 Single
$104,625 Married Filing Separate

The child tax credit (CTC) is increased to $1,000 for 2003
but if your income is high enough to trigger the phase out
of your exemptions it's doubtful you will qualify for the
CTC.

For more information on the CTC for 2003, see the pages at
the following link on the IRS website.

http://www.irs.gov/newsroom/article/...109816,00.html

Barney Byrd

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"Matt Slay" <mattslay[at]charter.net> wrote:

- quote -

Each personal exemption for 2003 is worth $3,050, if AGI is
over $104,625 you will have to use the worksheet to
calculate the total exemptions.

The Child Tax Credit has increased to $1000 per eligible
child in 2003. If you qualified in 2002 (and will qualify in
2003) you likely received a portion of this (up to $400 each
child) as a credit advance check in the last month. If so,
you will only be able to claim up to $600 on your tax
return.

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Can someone please tell me the 2003 personal exemption
amount for each person.

In 2002 it was $3,000 each for AGI less than $103,000.

What will it be for 2003, and the corresponding AGI amount???

What about the child tax credit for 2003? Will it change?

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