When I try to finish 12,400 exemtion show up, what is it and does it affect my tax

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When I try to finish 12,400 exemtion show up, what is it and does it affect my tax

You are seeing your standard deduction. That means that the first $12,400 of your income is not taxable if you are not someone else's dependent. It is not a refund.

Explain Standard Deduction—What is it?

https://ttlc.intuit.com/community/credits-and-deductions/help/what-s-my-standard-deduction/00/26370

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

When I try to finish 12,400 exemtion show up, what is it and does it affect my tax

So I don't pay that

Sorry I'm new to trying to do them on my own

When I try to finish 12,400 exemtion show up, what is it and does it affect my tax

No, your standard deduction of $12,400 is deducted from your income. If you look at your physical 1040 Form, you will see that your taxable income is less than your actual income.

When I try to finish 12,400 exemtion show up, what is it and does it affect my tax

Thank you very much

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