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With same income why did my taxable income jump so much from last year
I'm retired so my income is pretty much the same from year to year, close to same amount and from the same institutions. For 2017 my taxable income was in the mid 50's. For 2018 my taxable income was in the mid 40's. I attributed this to the Trump tax cuts. For 2019 my taxable income went back up to the mid 50's. I had assumed the tax cut was still in place since it is not suppose to expire until 2025.
So my question is, why would my taxable income increase back to near 2017 levels.
March 4, 2020
8:56 AM