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re: First time ever I owe taxes
Posted on 3/25/24 at 7:30 am to dallastiger55
Posted on 3/25/24 at 7:30 am to dallastiger55
quote:
the 4k tax credit
that's reduces your overall tax.
The standard deduction (or thousands in deductions) reduces your taxable income.
these are two different things.
quote:
I made about double what she made last year.
this doesn't give any more information than you already have given. you could be making 40k and she could be making 20k or you are making 500k and she's making 250k.
Go look at the tax summary on your return and it should show comparisons to the last 3 years. Did any of the figures change dramatically more than the year(s) prior?
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