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Originally published January 19, 2010 at 11:18 AM | Page modified January 19, 2010 at 12:57 PM

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Key numbers as you complete your taxes

Important numbers as you prepare to file your 2009 tax return:

The Associated Press

Important numbers as you prepare to file your 2009 tax return:

Personal exemption:

-Each personal or dependent exemption is now worth $3,650, up $150 from 2008.

Standard deduction:

-$11,400 for married couples filing a joint return, and qualifying widows and widowers.

-$5,700 for singles and married individuals filing separate returns.

-$8,350 for heads of household.

-You may be able to claim a higher standard deduction if you are 65 or older, blind, paid state or local real estate taxes or sales or excise taxes on a new vehicle, or were a victim of a federally declared disaster.

Alternative minimum tax exemption:

-$70,950 for a married couple filing a joint return, and qualifying widows and widowers.

-$35,475 for a married person filing separately.

-$46,700 for singles and heads of household.


Home buyer credit:

-Up to $8,000 for first-time homebuyers for purchases made through April 30, 2010.

-Up to $6,500 for long-time homeowners for purchases made between Nov. 7, 2009 and April 30, 2010.

-To qualify, the home must be used as a primary residence. The credit begins phasing out for married couples filing jointly with modified adjusted gross incomes above $225,000 and for individuals with incomes above $125,000.

Energy efficiency credit:

-30 percent of the cost of installing energy-efficient windows or doors, air conditioners or furnaces, or other energy-saving improvements, up to a maximum $1,500.

American Opportunity Credit:

-Up to $2,500 to cover college tuition, fees and required course materials.

-To qualify, the student may not have completed four years of college. There are also income limits.

Earned Income Tax Credit:

The maximum earned income tax credit was raised to:

-$5,657 for people with three or more qualifying children.

-$5,028 for people with two children.

-$3,043 for those with one child.

-$457 for people with no children.


-If you're covered by a retirement plan at work, the maximum modified adjusted gross income you can have and still take a deduction for IRA contributions rose to $65,000 - $109,000 if married filing jointly. The maximum deduction is $5,000, $6,000 if you were 50 or older by the end of 2009.

Long-term capital gains taxes:

-0 percent if taxed in the 10 percent to 15 percent brackets.

-15 percent maximum for taxpayers in higher brackets.

Mileage deductions:

-55 cents for each mile driven for business.

-24 cents for each mile driven for medical reasons or part of a deductible move.

-14 cents for each mile driven as part of charity work.

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