Deductions & credits

If you are concerned because you are seeing $12,700 on Line 40 of your Form 1040, rather than $13,000,  $12,700 is the standard deduction amount for married filing a joint return for 2017.

The 2017 Standard Deduction amounts are as follows (Look at the screenshot below):

Single or Married Filing Separately                           $  6,350

Married Filing Jointly or Qualifying Widow(er)            12,700

Head of Household                                                        9,350

You can see your deductions on Line 40 of your Form 1040.


View solution in original post