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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.
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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PHBoston
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