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Level 1
December 7, 2019
Solved

Is the standard deduction phased out if the income is above acertain threshold?

  • December 7, 2019
  • 1 reply
  • 5 views
in 2018 single taxpayer has a $300,000 capital gain.  He also has social security income of $27,000.
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Best answer by itonewbie

No, there is no phase out for standard deduction.

1 reply

itonewbie
itonewbieAnswer
Level 15
December 7, 2019

No, there is no phase out for standard deduction.

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