The reason your 2020 Standard Deduction was $27,400 is that both of you were age 65 or older. Based on the dates of birth you entered in the Personal Information section of the TurboTax program.
Standard deductions for 2020
Single - $12,400 add $1,650 if age 65 or older
Married Filing Separately - $12,400 add $1,300 if age 65 or older
Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
Head of Household - $18,650 add $1,650 if age 65 or older
