And how did you figure 26,500 Standard Deduction? Are you married? Are you each over 65? The Standard Deduction might be more than you think.
For 2021 the standard deduction amounts are:
Single 12,550 + 1,700 for 65 and over or blind (14,250)
HOH 18,800 + 1,700 for 65 and over or blind
Joint 25,100 + 1,350 for each 65 and over or blind
Married filing Separate 12,550 + 1,350 for 65 and over or blind
