The Married filing joint figure is…just 2x the single one.
But to your question, no. A deduction just reduces the value you are taxed on. That’s different from a fully refundable credit, which you get back the value of whether your earnings are above it or not. There are also nonrefundable credits which are not much different from a deduction, only bring you to 0, not negative tax owed.
The Married filing joint figure is…just 2x the single one.
But to your question, no. A deduction just reduces the value you are taxed on. That’s different from a fully refundable credit, which you get back the value of whether your earnings are above it or not. There are also nonrefundable credits which are not much different from a deduction, only bring you to 0, not negative tax owed.