Your fact-checks will appear here
Deduction rules for self-employed taxpayers
The 2025 “” created by the lets eligible taxpayers age 65+ claim an additional above‑the‑line deduction of up to $6,000 ($12,000 if both spouses qualify) and is reported on a new Schedule 1‑A; the ben...
The and Form 1040‑SR explicitly place the standard deduction amount on line 12 of page 2, and the form uses a set of checkboxes (on line 12d) to capture age‑65 and blindness adjustments whose count fe...
Modified adjusted gross income (MAGI) for ACA subsidies starts with your federal adjusted gross income (AGI) from Form 1040 and then adds back only a narrow set of items — tax-exempt interest, non‑tax...
Dependents calculate their as the greater of a flat $1,350 or their , but that result cannot exceed the regular standard deduction for their filing status (single, head of household, married filing jo...
For under $250 the requires either a bank record (canceled check, bank or credit card statement, or ) or a written communication from the charity that shows the organization’s name, the date and the a...