Help standard deduction Im doing my taxes for the first time. I turned 18 in December and it says I have a standard deduction of $14600. I only made $16900 That seems a little high? Did i mess up? I dont want to get in trouble with the irs submitted by /u/fishpiethegoat

Traditional IRA Deduction Income Limits I am….wildly confused about whether or not we can get a deduction for contributing to a traditional IRA. Husband has a retirement plan through work. I do not have a retirement plan through work. The wording on the IRS website is incredibly confusing. The IRS uses the word “you” when explaining the deduction phaseout. Which you? On the one hand…

$3k capital loss deduction on tax is for a single or jointly? Case 1: I file 1040 with my spouse as married jointly filing, the total capital loss deduction is $3k or $6k? Case 2: I file 1040 as married separately filing, and my spouse files it as separately as well. Can each deduct $3k, so totalling $6k? TIA submitted by /u/wasabi-rich

Standard Deduction and Exemption Question I’m confused as to if this is possible. Please let me know if I’m completely wrong or just making things harder for no reason. Standard deduction for single filers is $14,600 in 2024. Last year I made just below the standard deduction for 2023 so I claimed exempt. This year, I might make more than $14,600 by a little bit. Does it make sense to c…

Everton’s points deduction, explained: What they did wrong, and why it’s nothing like Man City On Friday, Everton were docked 10 points for violating the Premier League’s profit and sustainability rules (PSR). What did they do, why is it being punished now, and how does it compare to cases against the likes of Man City?

Started a new job and federal withholding seems too high, and calculated refund is high. How can I lower my withholdings if I’m using the standard deduction? I just started a new job and the federal tax withholding is much higher than I expected. 29% of the pay was taken for all taxes. I took a couple refund calculators and they both said that I will be getting thousands of dollars in refunds next year. How can I make sure the proper amount of withholding is being used? (i take the standard deduction…

Auto loan not reflecting total payment on the deduction? Hi, I just wanted to verify a question as neither the bank or car dealership notified me about this. I took out an auto loan for a used car in august, and after looking at the previous payments the payment amount I make isn’t deducted correctly. For example, out of a $800 payment only $500 of that reflects on the total. I called the bank and th…

Graduate Teaching Assistant offers Payroll Deduction for Tuition -what does this mean? Hi, I was offered a graduate teaching assistant (GTA) role for this upcoming semester. My balance I owe to the university this semester is $8,349 that I have to pay next week. My GTA role allows me to payroll deduct a maximum amount of $2,891 over 3 pay periods. I recieve a monthly stipend of $1155. What all does this mean? Do I deduct my balacn…