Quote:
For tax year 2011, the personal exemption allowance increases to $3,700 and the special exemptions allowance increases to $2,400....
And it goes on to talk about pension exemptions
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For tax year 2011, pension benefits included in AGI from a private pension system or an Individual Retirement Account [[IRA) are deductible to a maximum of $45,842 for a single filer or $91,684 for joint filers.
Senior citizens age 65 or older may be able to deduct
part of their interest, dividends, and capital gains that are
included in AGI. For 2011, the deduction is limited to a
maximum of $10,218 for single filers and $20,437 for joint
filers. See Schedule 1 instructions beginning on page 12
for further details regarding pension benefits and senior
citizen interest deductions.
The exemptions on the Form MI-1040 include