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I read the first 25,000 of my income is not taxable. is this true
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June 4, 2019
2:06 PM
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Retirement tax questions
It depends on your filing status. Each one has a different standard deduction. This only applies to Federal tax. There are other taxes such as self-employment orHealth Care that bring taxes other than Federal.
The standard deductions for 2018 are:
Single $12,000
Married Filing Jointly $24,000
Head of Household $18,000
For those taxpayers who are 65 and older or blind, add another $1300 for each condition.
June 4, 2019
2:07 PM