Does Nebraska have a personal exemption credit?

Add your answer...

1 Answer

Yes. Residents can claim the year-specific credit for each federal exemption reported on line 4 of Form 1040N or line 5 of Form 1040NS. Nonresidents and partial-year residents claim the credit on the Nebraska Schedule III. In tax years prior to 2006, higher income individuals may have this credit phased out or reduced, so you should refer to the Personal Exemption Table in the appropriate tax year booklet. more
1 more source
Thanks for your feedback!

Related Videos

Not the answer you're looking for? Try asking your own question.