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Deductions & credits
The tax brackets are used on your taxable income. This is your Adjusted Gross Income minus the Standard Deduction (or Itemized Deduction if greater)
If your taxable income in 2021 would be $57,900 then your tax bracket would be 12%. The first $19,900 would be taxed at 10% and the amount greater than $19,900 would be taxed at 12%.
‎June 15, 2021
7:44 AM