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New Member
posted Jun 1, 2019 3:40:36 PM

Why is my taxable amount 21000.00 more than 2017?

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1 Replies
New Member
Jun 1, 2019 3:40:52 PM

Assuming you earned about the same as 2017, the main reason that your taxable amount is likely more is that Tax Reform eliminated the exemptions that were previously allowed. For each dependent, including yourself, you would get an exemption which would reduce your taxable amount. Additionally, if you are itemizing, Tax Reform also put limits on the amount of State and Local Tax you can deduct.