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Deductions & credits
Yes, you get a standard deduction even if you are claimed on your parent's return. It is applied automatically, you don't need to select it. Look on Line 12 on Form 1040.
If you are being claimed as a dependent, your Standard Deduction is lower. For example, in 2023, the Standard Deduction for dependents is whichever is greater:
- $1,250
- Earned income plus $400
Note that for option two, it can't equal more than the Standard Deduction for your filing status. So, if you are a single taxpayer under age 65, it couldn't exceed the $13,850 Standard Deduction for 2023.
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‎April 6, 2024
4:22 PM