What was the exemption amount for taxpayers in 2011?

The exemption amount for taxpayers in 2011 was indeed $3,700. This amount was set by the IRS and was applicable to all taxpayers for that tax year. Personal exemptions allowed taxpayers to reduce their taxable income for themselves and their dependents, thereby lowering their overall tax liability. Understanding this exemption is crucial since it reflects the IRS's tax policy at that time, which can affect calculations for taxable income and overall tax planning for individuals. Taxpayers often consider exemptions when filing their returns to determine their eligibility for various credits and deductions.