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2. Kiddie tax - Wikipedia

   en.wikipedia.org/wiki/Kiddie_Tax

   Sec. 1(g)(4)(A) provides the formula for computing a child's "net unearned income," which is the child's unearned income minus either (1) two times the standard deduction allowed to dependents under §63(c)(5)(A) or (2) that deduction plus the itemized deductions directly connected with the production of the unearned income. [4]

3. What is the kiddie tax and how does it work? - AOL

   www.aol.com/finance/kiddie-tax-does-184003135.html

   If a child under the age of 18 or a full-time dependent college student under the age of 24 holds income-generating assets that earn more than $2,500 in tax year 2023 (or $2,600 in tax year 2024 ...

4. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

   www.aol.com/finance/10-tax-deductions-know-2023...

   The standard deduction is a fixed deduction that varies depending on your filing status, age and dependent status. This year, the standard deduction is $12,950 for those filing single or married ...

5. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   For dependents, the standard deduction is equal to earned income (that is, compensation for services, such as wages, salaries, or tips) plus a certain amount ($400 in 2023). A dependent's standard deduction cannot be more than the basic standard deduction for non-dependents, or less than a certain minimum ($1,250 in 2023).

6. Taxes 2023: Which Credits and Deductions Apply to You? - AOL

   www.aol.com/finance/taxes-2023-credits...

   Tax credits and deductions were already confusing many of us before all of this year's substantial changes. Good Question: What Is the Standard Deduction for People Over 65 in 2023? FICO Fix: 3...

7. What Is the Standard Deduction Amount for 2022-2023 and When ...

   www.aol.com/difference-between-standard...

   Here are the standard deductions for the 2022 and 2023 tax years: Single: $12,950 for 2022, $13,850 for 2023. Married, filing jointly: $25,900 for 2022, $27,700 for 2023.

8. Taxes 2023: Here's how to know if you should itemize - AOL

   www.aol.com/finance/taxes-2023-heres-know...

   January 10, 2023 at 11:35 AM. ... For the 2022 tax year, the standard deduction amounts are: $12,950 if you’re single or married filing separately. $19,400 for heads of household.

9. Understanding the current Child Tax Credit for 2023 and what ...

   www.aol.com/understanding-current-child-tax...

   This taxpayer will drop his/her tax liability to $0 and then report a refundable credit of $1,800 (i.e., 3 x $1,600 or $4,800 - $3,000) using Form 8812 where he/she will report the Additional ...