Deductions & credits

If you were an employee, then your wage information is on the W-2 that was issued by your employer.   You enter it in Federal>Wages & Income.   Do you have your W-2?   

 

As for your standard deduction----that amount is determined by your filing status---whether you are single, married filing jointly or filing separately, or if you are a head of household with dependents.  You do not have to enter your standard deduction---that is done automatically by the software when you enter your personal information in My Info.  

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

 

 

 

 

2023 STANDARD DEDUCTION AMOUNTS

 

SINGLE $13,850  (65 or older/legally blind + $1850)

 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**