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Level 1
posted Feb 1, 2020 12:06:18 PM

My deduction is 12,200$ is that correct?

0 2 330
2 Replies
Level 15
Feb 1, 2020 12:49:49 PM

Your standard deduction lowers your taxable income.  It is not a refund. 

 

2019 Standard Deduction Amounts

 

Single $12,200   (+ $1650 65 or older)

Married Filing Separate  $12,200   (+ $1300 if 65 or older)

Married Filing Jointly $24,400   (+ $1300 for each spouse 65 or older)

Head of Household $18,350  (+ $1650 for 65 or older)

 

Look on line 9 of your 2019 Form 1040 to see your itemized/standard deduction amount

Employee Tax Expert
Feb 1, 2020 12:52:12 PM

It depends.

 

If you are filing using the single status, then yes, your standard deduction is $12,200.

 

If you are filing with another status, your standard deduction will be different.

 

Attached is a link which shows the standard deduction based upon your filing status:

 

Standard deduction for 2019