2008 and 2007 TAX RATES, EXEMPTION & STANDARD DEDUCTION

deductions are less than the standard deduction. The 2008 standard deduction on a joint return is $10,900 and $5,450 on a single return. exemptions: A statutory amount ($3,500 in 2008) the taxpayer deducts for himself, his spouse, and each qualified dependent. ................
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