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I filed before the tax deductions changed, Am I being Taxed more then I should be?
Taxes just changed the other day, But I filed on the 12th, I make less then 50k a year and I feel I got hit harder with this year then any other years. This is also the first year I've made more then 40k. How can I tell if I've payed more taxes then I should have?
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June 3, 2019
12:53 PM
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Get your taxes done using TurboTax
Most of the new changes are for 2018 returns we file next year in 2019. The one big change for 2017 was the medical deduction went from 10% AGI threshold down to 7.5% for everyone. But Turbo Tax had made that change.
June 3, 2019
12:53 PM
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So this --> In 2017, the standard deduction for a single taxpayer is $6,350, plus one personal exemption of $4,050. The new law combines those into one larger standard deduction for 2018: $12,000 for single filers and $24,000 for joint filers.
The Standard deduction wont be 12,000 take affect for the 2017 taxes? Or only on the 2018 taxes moving forward.
The Standard deduction wont be 12,000 take affect for the 2017 taxes? Or only on the 2018 taxes moving forward.
June 3, 2019
12:53 PM
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Only starting with 2018 returns filed in 2019.
June 3, 2019
12:53 PM
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Right. For 2018 starting now going forward.
June 3, 2019
12:53 PM