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Level 15
Level 15
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Tax law changes

1. The deductions for overtime and tips are below the line. They do not reduce AGI.


2. Yes, the deductions for seniors, charitable contributions for non-itemizers, and qualified business income are below the line.


3. That is correct. The $6,000 deduction for seniors and the phase-out ranges are not indexed for inflation. I can't comment on what might have been shown in a webinar.

 

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