1040-SR, standard deduction

Forum|Forum|3 years ago
February 6, 2023
3 replies
0 views

I notice that the 1040-SR form that generated after I did my taxes does not reflect the $16,450 standard deduction on Line 12 based on me being over 65. It only has $14,700 on line 12. Is this extra $1,750 reflected elsewhere on the form? I do not see it. Thank you.

Deduction

VolvoGirl

Level 15

That's right.

For 2022 the standard deduction amounts are:

Single 12,950 + 1,750 for 65 and over or blind (14,700)

HOH 19,400 + 1,750 for 65 and over or blind (21,150)

Joint 25,900 + 1,400 for each 65 and over or blind (27,300/28,700)

Married filing Separate 12,950 + 1,400 for 65 and over or blind (14,350)

lynndahowAuthor

Level 2

Thanks everyone for the quick reply. I was looking at the Standard Deduction chart incorrectly I guess. I appreciate the guidance. Best, L

DoninGA

Level 15

The Standard Deduction for filing as Single and age 65 or older is $14,700 for tax year 2022.

Standard deductions for 2022

Single - $12,950 add $1,750 if age 65 or older
Married Filing Separately - $12,950 add $1,400 if age 65 or older
Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
Head of Household - $19,400 add $1,750 if age 65 or older