Hal_Al
Level 15

Retirement tax questions

In past years, every taxpayer got a standard deduction of about $6000 plus a personal exemption of about $4000, for a $10,000 total "deduction".

For 2018, the personal exemption has been eliminated and the standard deduction has been increased to $12,000.

Some people come out better, with this new arrangement, some don't.

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