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Education
Regular tax payers (who are not dependents) get a standard deduction of $12,950. Dependents also are allowed a standard deduction, it's just not a fixed $12,950. A dependent's standard deduction is the larger of $1150 or his earned income + $400. If TT is calculating his standard deduction to be $6070, it probably means he has a w-2 for $5670.
‎February 26, 2023
4:02 PM