Yes, but hat's only *approximately* true. The additional $38K is income and changes your AGI and AGI governs other tax benefits. Common ones include medical deductions, tuition deductions and credits, child tax credit.
TurboTax (TT) download software can be used to do trial returns to see the effect of changes. The tool is also useful. https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1
TurboTax Online (TTO) is not very useful that way
