When filing a joint tax return, how much will Kevin and Jennifer's taxable income be reduced by personal exemption deductions?

The correct amount by which Kevin and Jennifer's taxable income will be reduced by personal exemption deductions is indeed zero. This is due to changes in tax law, specifically the Tax Cuts and Jobs Act enacted in 2017, which eliminated personal exemptions for the tax years 2018 through 2025. Prior to this change, taxpayers could claim personal exemptions for themselves and their dependents to reduce their taxable income, but this provision is currently not available.

Therefore, since personal exemption deductions do not apply for the tax years in question, Kevin and Jennifer will not benefit from any reduction in taxable income through these deductions. Understanding the evolution of tax legislation is crucial for tax planning and ensures that taxpayers are aware of what deductions are available to them during a given tax year.