Federal deductions and exemptions - how is this total calculated?

Taxpayers are entitled to a Standard Deduction which reduces their taxable income. In 2016, the Standard Deduction is $6,300 for filing status Single or Married Filing Separately, $12,600 for Married Filing Jointly, and $9,300 for Head of Household. 

Taxpayer who have large medical expenses, mortgage interest, real estate taxes, charitable contributions, and other qualifying expenses may choose to "itemize" these deductions and receive a greater reduction of taxable income than that allowed by the Standard Deduction. If this describes your situation, you can enter these expenses through the TurboTax interview, and TurboTax will determine whether the standard or itemized deduction is right for you.

Personal exemptions, which further reduce your taxable income, are worth $4,050 for 2016. You receive one personal exemption for yourself (if you are not being claimed as a dependent on anyone else's return), one for your spouse (if Married Filing Jointly), and one for each dependent listed on page 1 of Form 1040.