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Level 1

Where does exemption amount from tax histroy flow from I have nothing for 2018 but all other years I do?

 
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Level 1

Where does exemption amount from tax histroy flow from I have nothing for 2018 but all other years I do?

Under the new tax laws, the personal exemption has been eliminated for tax years 2018-2025.  To make up for this the standard deduction was raised to $12,000 if you're filing single and $24,000 if married filing jointly.

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Level 1

Where does exemption amount from tax histroy flow from I have nothing for 2018 but all other years I do?

Under the new tax laws, the personal exemption has been eliminated for tax years 2018-2025.  To make up for this the standard deduction was raised to $12,000 if you're filing single and $24,000 if married filing jointly.