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January 24, 2021
Question

I just received an estimated standard deduction of $12,400 , is that the amount of money I will receive for my tax return/refund ?

  • January 24, 2021
  • 2 replies
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2 replies

DoninGA
Employee
January 24, 2021

No.  The standard deduction is the portion of income not subject to tax that can be used to reduce your tax bill.