Retirement tax questions

You get a higher standard deduction if you are 65 or older.  When you enter your date of birth in Personal Info, TT will use that to calculate your return based on that standard deduction.

2016 Standard Deductions

Single    $6300  (65 or older + $1550)

Married Filing Separately   $6300  (65 or older +  $1250)

Married Filing Jointly           $12,600  (65 or older + $1250@)

Head of Household $9300  (65 or older + $1550)

**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.**

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