Yes, For 2020, he standard deduction amount for an individual who may be claimed as dependent cannot exceed the greater of $1,100 or the sum of $350 and the individual's earned income not to exceed the regular standard deduction. If your parents claimed you as dependent on their 2020 income tax return, you may only enter $1,100 as your 2020 standard deduction.
For example, if income was $13,000, then your standard deduction as a dependent was $1,100.
- Adjusted Gross income $13,000
- Less: Standard Deduction 1,100
- Taxable Income 11,900
