What is the 2023 standard deduction? Why is it not showing on my form?

Forum|Forum|3 years ago
January 28, 2023
4 replies
33 views

No text available

TurboTax Deluxe Online

KrisD15

Alumni - Intuit

Below is a link to a chart showing the Standard Deductions for Tax Year 2022, but it s adjusted if you are filing as a dependent.

STANDARD DEDUCTIONS

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Texas Roger

Level 15

The standard deduction you must use for your 2022 tax return is the standard deduction for 2022 not 2023.

xmasbaby0

Level 15

You are not preparing a 2023 tax return now. You are preparing a 2022 return for the tax year that just ended.

Your standard deduction lowers your taxable income. It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2022 Form 1040.

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.**