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December 26, 2017 2:46 pm at 2:46 pm
#1436965
Joseph
Participant
“I may or may not be an accountant, but I don’t think the standard deduction has anything to do with dependent exemptions. You can take the standard deduction regardless of whether or not you are taking dependent exemptions.”
The dependent exemptions are eliminated in the new tax code. The logic Congress used to eliminate them was because they doubled the standard deductions and doubled the child tax credit.