Deductions & credits

The software automatically uses your standard deduction unless you enter enough itemized deductions to exceed your standard deduction.  You do not have to do anything to make the software use standard deduction.

 

It sounds like you are using a 1040SR which indicates you are 65 or older so you have a higher standard deduction based on the date of birth you entered in MY INFO.  The software will automatically use that amount.

 

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 2024 Form 1040.

 

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

**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.**