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shayesship
Level 1
August 23, 2022
Question

For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?

  • August 23, 2022
  • 3 replies
  • 39 views
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3 replies

Mike9241
Level 15
Mike9241Level 15
Level 15
August 23, 2022

$14,700 or $450 more than 2021. You know you could have done a web search for this or gone to the IRS website. 

Mike9241
    NCperson
    Level 15
    August 23, 2022

    @shayesship and it's angling towards $15,700 for 2023 based on current estimates of inflation.

     

    https://thefinancebuff.com/tax-brackets-standard-deduction-0-capital-gains.html

     

    @Mike9241 - and as a member of the community, you were happy to provide the answer to a community member that asked 😎

    Level 15
    xmasbaby0Level 15
    Level 15
    August 23, 2022

    2022 STANDARD DEDUCTION AMOUNTS

     

    SINGLE $12,950  (65 or older + $1750)

     

    MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

     

    MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

     

    HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

     

    Legally Blind + $1750

    **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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