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Deductions & credits
If you only had W2 income then yes the Standard Deduction might be more. Do you have any deductions you can itemize? You get to deduct either the Standard Deduction or your itemized deductions whichever is more.
For 2020 the standard deduction amounts are:
Single 12,400 + 1,650 for 65 and over or blind (14,050)
HOH 18,650 + 1,650 for 65 and over or blind
Joint 24,800 + 1,300 for each 65 and over or blind
Married filing Separate 12,400 + 1,300 for 65 and over or blind
If you are a dependent your Standard Deduction might be less.
March 4, 2021
3:48 PM