Tax transcripts

[Abcd1234 102]

So for financial support of spouse.

I just got a bit worried and want to make sure.

 

My income last year was close to 30k. And i have only my spouse as dependent ( if spouse is considered as). But now that when i am printing tax transcripts,  even i didnt add any deductions,  in tax transcripts of last year it says standard deductions 12k. I think it applies to everyone,  i was single last year so i think 12k was standard. But then it reduces the taxable income. Even though i have no deductions filed by me and my w2 shows higher income. I am worried that the taxable income no. drops after 12k deductions and we may not meet income requirements. 

  Is it same fof every body? Or is it a worry?

Edited October 22, 2019 by Abcd1234

[USS_Voyager 1,972]

36 minutes ago, Abcd1234 said:

So for financial support of spouse.

I just got a bit worried and want to make sure.

 

My income last year was close to 30k. And i have only my spouse as dependent ( if spouse is considered as). But now that when i am printing tax transcripts,  even i didnt add any deductions,  in tax transcripts of last year it says standard deductions 12k. I think it applies to everyone,  i was single last year so i think 12k was standard. But then it reduces the taxable income. Even though i have no deductions filed by me and my w2 shows higher income. I am worried that the taxable income no. drops after 12k deductions and we may not meet income requirements. 

  Is it same fof every body? Or is it a worry?

Look at line 6 on form 1040 on your tax return. That is your total income. That's the number that counts. 

[Abcd1234 102]

2 minutes ago, USS_Voyager said:

Look at line 6 on form 1040 on your tax return. That is your total income. That's the number that counts. 

Am i printing wrong documents,  i downloaded "tax return transcript" is that what i need? Line 6 have refunds, and it says 0 lol

[USS_Voyager 1,972]

1 minute ago, Abcd1234 said:

Am i printing wrong documents,  i downloaded "tax return transcript" is that what i need? Line 6 have refunds, and it says 0 lol

No, you're on the right now. I just meant to say if you want to know what your total income is, that is line 6 on your tax return 1040. 

 

On the transcript, which is what you're on now, there should be a line toward the end of the first page that say "Total income". That's the one that counts. Not the deductions, not the refund. 

 

 

[Abcd1234 102]

1 hour ago, USS_Voyager said:

No, you're on the right now. I just meant to say if you want to know what your total income is, that is line 6 on your tax return 1040. 

 

On the transcript, which is what you're on now, there should be a line toward the end of the first page that say "Total income". That's the one that counts. Not the deductions, not the refund. 

 

 

Cool, that one makes more than minimum requirement, 

   however under the heading of tax and credit, there is 12000 standard deduction and taxable income is then goes to18k ...that is not the number we are looking at right?

[payxibka 10,045]

3 minutes ago, Abcd1234 said:

Cool, that one makes more than minimum requirement, 

   however under the heading of tax and credit, there is 12000 standard deduction and taxable income is then goes to18k ...that is not the number we are looking at right?

They are not looking at taxable income but total adjusted gross income 

[Abcd1234 102]

4 minutes ago, payxibka said:

They are not looking at taxable income but total adjusted gross income 

Awesome thank you