Total Assets

Total Debt

Total Exempt

Definitions?

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Exemptions Comparison

National

  • Homestead: $23,675 ($47,350 if you are filing jointly with your spouse) of the equity in your home
  • Personal Property:
    • Motor vehicle: $3,775
    • Jewelry: $1,600
    • Home goods, furniture, appliances, clothing, books, animals, crops, or musical instruments: Total of $12,625 ($600 max for each individual item)
    • Professional books, implements, or tools of trade: $2,375
    • Health aids prescribed by a doctor: All
    • Unmatured life insurance contracts other than credit life insurance: All
    • Life insurance contract accrued interest, dividend, or loan value: $12,625
  • Retirement Accounts:
    • Retirement accounts exempt from taxation: All
    • IRAs and Roth IRAs: $1,283,025
  • Benefits and Supports:
    • Alimony: All
    • Child Support: All
    • Life insurance payments of someone you were a dependent of reasonably necessary for your support: All
    • Public Benefits (Social security benefits unemployment compensation and benefits, veteran’s benefits, public assistance, and disability benefits): All
  • Wildcard: $1,250 plus $11,850 of any unused portion of your homestead exemption.

State

  • Homestead:
    • Unlimited; property cannot exceed 10 acres in town, village, city or 100 acres (200 for families) elsewhere; sale proceeds exempt for 6 months after sale (renting okay if another home not acquired)
    • If property acreage is larger than what is covered by homestead exemption, may have to file homestead declaration
  • Personal Property:
    • $60,000 total for family, $30,000 for single adult
    • Liquor licenses & permits
    • Prepaid tuition plans
    • Athletic & sporting equipment, including bicycles
    • Clothing & food
    • Health savings accounts
    • Home furnishings including family heirlooms
    • Jewelry (limited to 25% of total exemption)
    • Pets & domestic animals plus their food: 2 horses, mules, or donkeys & tack; 12 head of cattle; 60 head of other livestock; 120 fowl
    • 1 two-, three- or four-wheeled motor vehicle per family member or per single adult who holds a driver's license; or, if not licensed, who relies on someone else to operate vehicle
    • 2 firearms
    • Farming or ranching vehicles & implements
    • Tools of the trade: tools, equipment (includes boat & motor vehicles used in trade) & books
  • Exempt from total amount:
    • Bible or other book containing sacred writings of a religion
    • Burial plots
    • Health aids
  • Retirement Accounts:
    • Tax-exempt retirement accounts, including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined-benefit plans
    • Traditional and Roth IRAs to $1,245,475 per person
    • Higher education savings plan trust account
    • Country & district employees
    • ERISA-qualified government or church benefits, including Keoghs, IRAs, & Roth IRAs
    • Firefighters
    • Judges
    • Police Officers
    • Law enforcement officers, firefighters, emergency medical personnel survivors
    • Municipal employees & elected officials, state employees
    • Retirement benefits to extent tax-deferred
    • Teachers
  • Benefits and Supports:
    • Alimony & child support
    • Crime victims' compensation
    • Medical assistance
    • Public assistance
    • Unemployment Compensation
    • Workers’ compensation
  • Insurance
    • Fraternal benefit society benefits
    • Life, health, accident, or annuity benefits, monies, policy proceeds & cash values due or paid to beneficiary or insured
    • Texas employee uniform group insurance
    • Texas public school employees group insurance
    • Texas state college or university employee benefits
  • Wages:
    • Earned but unpaid wages
    • Unpaid commissions not to exceed 25% of total personal property exemptions
Which exemption would you like to choose?