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Get your taxes done using TurboTax
Your standard deduction lowers the amount of your income that you are taxed on. It is not a refund. If you are filing single, you get a personal exemption of $4000 and a standard deduction of $6300. That means the first $10,300 of your income is "tax free." You are taxed on the amount over that, and if your withholdings exceed the tax you owe, you get a refund of the difference.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
May 31, 2019
5:05 PM