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rfollmann
New Member

Turbo tax states that the standard deduction applied to my grandaughter's tax return is $12,200 instead of the correct amount of $14,600. Why the lower amount?

 
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3 Replies

Turbo tax states that the standard deduction applied to my grandaughter's tax return is $12,200 instead of the correct amount of $14,600. Why the lower amount?

Is she being claimed as a dependent on someone else's tax return?

 

The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,250 or the sum of $400 and the individual’s earned income (not to exceed the regular standard deduction amount of $14,600).

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Turbo tax states that the standard deduction applied to my grandaughter's tax return is $12,200 instead of the correct amount of $14,600. Why the lower amount?

Actually for 2024…..The 2024 Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,300 or

…..Your earned income for the year + $450 (but not more than 14,600)

 

So you would get a minimum of $1,300

Turbo tax states that the standard deduction applied to my grandaughter's tax return is $12,200 instead of the correct amount of $14,600. Why the lower amount?

@VolvoGirl Thanks----I clicked the prior year numbers for part of my reply...oops.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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