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The amount for the standard deduction seems incorrect
I'm trying to assist my grandson with his tax return. He has $4,431 on line 1 of form 1040. And $5,800 on line 8. I told him to enter his 1099 income on Schedule 1, line 8z "other income" because his work was just a one-time job. So, he shouldn't be subject to self-employment taxes.
He is only 18 years old and is a dependent on his parents' tax return. So, TurboTax limited his standard deduction, which it should. But it is calculated as $4,831 (income from line 1 plus $400). Shouldn't it be $10,631 (income from line 1 plus income reported on line 8 plus $400)?
If it should be $10,631, how can we change it?
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‎April 15, 2024
8:39 AM