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Get your taxes done using TurboTax
Yes, if you add $10,000 of any kind of income into a tax return, it'll change the tax due.
The extra $10,000 can have many impacts throughout your return, such as:
- You may exceed an income threshold for a credit or deduction, resulting in losing it, or it being reduced.
- Your Alternative Minimum Tax may increase.
- Your Standard Deduction might be limited.
- You might trigger the Net Investment Tax.
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‎February 11, 2024
10:24 AM