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Get your taxes done using TurboTax
Everyone gets to take a Standard Deduction amount off their income before the tax is calculated (it's a good thing - it lowers your income). Which means the first 13,850 Single (27,700 Joint) of your income is not taxed and is tax free. Unless their itemized deductions are more. Itemized deductions are things like Medical, Gifts to Charity, State Income Taxes Paid, Mortgage Interest, Property Taxes, Car Registration fees, etc.
March 7, 2024
3:38 PM