What's a wild card? I've heard people mention wild cards and am unsure what that is. Does it deal with what state you are in? I'm in Florida right now.
- Debbie.
- Debbie.
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Some states have what is known as a "wild card" exemption. Where you can claim an exemption on anything up to the amount of the Wild Card.
So for example, lets assume your state has a $2000 wild card exemption. You could use that exemption to exempt a tax refund of $1500 (because generally, there is no exemption that covers a tax refund).
The bad news, not all states have a wild card exemption.
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