Confused. Does anyone know why TurboTax says standard deduction is 14250? I thought it was 12550.

[jupiter1]

Is there an error in turbo tax ? Standard Deduction does not seem to be correct.

[VolvoGirl]

Are you a dependent? 

The Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,100 or

…..Your earned income for the year + $350 (but not more than 12,550)

So you would get a minimum of $1,100.

See the 1040 worksheet on page 33

https://www.irs.gov/pub/irs-pdf/

[SweetieJean]

You get an extra $1700 deduction if you are age 65+.

[VolvoGirl]

Oh I'm tired.  I must have read it wrong way.