Deductions & credits

Did you check what is on your 1040 tax return.

We can help you do that.

You can preview your 1040 tax return by going to:

1. On the menu bar on the left that shows.
2. Select Tax Tools
3. On the drop-down select Tools
4. On the popup menu
5. Select View Tax Summary
6. On the left sidebar
7. Select Preview my 1040.
8. Line 12 is your Deduction

You can compare the entry on line 12 to these published rates.

The standard deduction amounts for 2023 are:

• $13,850 – Single or Married Filing Separately (increase of $900)
• $27,700 – Married Filing Jointly or Qualifying Surviving Spouse (increase of $1,800)
• $20,800 – Head of Household (increase of $1,400)

For 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:

• $1,850 for Single or Head of Household (increase of $100)
• $1,500 for married taxpayers or Qualifying Surviving Spouse (increase of $100)

Please contact us again with any additional information.

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