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How has the standard deduction changed over the years?
The Tax Cuts and Jobs Act (TCJA) increased the standard deduction from $6,500 to $12,000 for individual filers, from $13,000 to $24,000 for joint returns, and from $9,550 to $18,000 for heads of household between 2017 and 2018. As before, the amounts are indexed annually for inflation.
Who qualifies for the 20% pass through deduction?
You must have a pass-through business to qualify for this deduction. A pass-through business is any business that is owned and operated through a pass-through business entity, which includes any business that is: a sole proprietorship (a one-owner business in which the owner personally owns all the business assets)
Where can I get tax forms and instruction booklets?
Get the current filing years forms, instructions, and publications for free from the IRS. Download them from IRS.gov. Order online and have them delivered by U.S. mail. Order by phone at 1-800-TAX-FORM (1-800-829-3676)
Is form 1310 required?
If a tax refund is due, the person claiming the refund must fill out IRS Form 1310: Statement of Person Claiming Refund Due to Deceased Taxpayer unless the person is a surviving spouse filing a joint return or a court-appointed personal representative.
What was the standard deduction in 2012?
6. Standard Deduction Unmarried Individuals (other than Surviving Spouses and Heads of Households) ( Section 1(j)(2)(C) ) Tax YearStandard Deduction 2012 $5,950 2011 $5,800 2010 $5,70030 more rows
Related Searches
2012 instructions form pdf2012 Form 1040 instructions2012 instructions form 10992012 Schedule C2013 Form 1040 instructionsTax Forms 20122012 Schedule AForm 2012
Federal Income Tax Rates: Filing Status and Income Tax Rates 2012* Tax Rate Married Filing Jointly or Qualified Widow(er) Married Filing Separately 10% $0 - 17,400 $0 - 8,700 15% $17,400 - 70,700 $8,700 - 35,350 25% $70,700 - 142,700 $35,350 - 71,3504 more rows
What is a form 8821 instructions?
File Form 8821 to: Authorize any individual, corporation, firm, organization, or partnership you designate to inspect and/or receive your confidential information verbally or in writing for the type of tax and the years or periods listed on the form. Delete or revoke prior tax information authorizations.
What was the standard deduction in 2013?
Federal standard deduction Filing status YearSingleMarried filing jointly 2014 $6,200 $12,400 2013 $6,100 $12,200 2012 $5,950 $11,90016 more rows
Related links
2012 Instruction 1040 Schedule C
Dec 11, 2012 Use Schedule C (Form 1040) to report income or loss from a business you operated or a profession you practiced as a sole proprietor.
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