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No, your parent poster is completely wrong. You'll pay more in taxes reporting 45k with the standard deduction than if you report 35k with the standard deductio
by thenewnewguy 7y ago
No, your parent poster is completely wrong. You'll pay more in taxes reporting 45k with the standard deduction than if you report 35k with the standard deduction. The only scenario in which the standard deduction "fixes" this issue is if it reduces your taxable income to the point where you do not owe income tax regardless of if you report that extra income or not.