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Deductions & credits
The true amount for 2025 can't be known until after mid-September 2024 when all of the data needed to determine the inflation adjustment are available. Any estimate prior to that would be based on a guess of the inflation rate between now and then.
In 2026 the doubling of the exemption introduced by the Tax Cuts and Jobs Act of 2017 is schedule to end, so I would guess that it will drop back to somewhere near $7M.
‎December 13, 2023
5:10 PM