I am filing for my daughter who is a college student, she only has some summer intern income of $8,580.
In TT, at the end of the deduction and credit section, the summary shows
standard deduction for her in 2022 is $12,600, and for 2023 is $8,980
Why standard deduction is only $8,980 for her?
Also I would enter $3000 1099-Q from Charles Schwab for her coverdell eduction IRA for her since it has her name on it, entering these doesn't change the standard deduction which is still only $8,980 for single filer.
I see the following on TT help,
Standard Deduction Amounts for 2023
If your filing status is:
Single
Your standard deduction is $13,850.
