Why does the page of standard deductions means when it tells me that the deduction of $6300 will save me the most money? Does it mean I owe those $6300?
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1 Best answer
jerry2000
Alumni
May 31, 2019 11:42:27 PM
No, you do not owe that amount. The $6,300 standard deduction reduces your taxes by reducing your taxable income. It is a good thing and it saves you tax money.
1 Replies
jerry2000
Alumni
May 31, 2019 11:42:27 PM
No, you do not owe that amount. The $6,300 standard deduction reduces your taxes by reducing your taxable income. It is a good thing and it saves you tax money.