How much is a dependency exemption worth?
In general, for 2008, each taxpayer may claim a personal exemption of $3,400. If you are married and file a joint return, you and your spouse each claim a personal exemption. You can claim an exemption for your spouse, even if he or she died during the tax year, provided that you did not remarry. In addition, a taxpayer is entitled to an additional $3,400 dependency exemption for each qualified dependent. A child qualifies for an exemption, even if he or she is born on the last day of the year.
