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sheneaa
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Why is the cost of living deduction 12000 when i paid 14000 alone in just rent

 
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Why is the cost of living deduction 12000 when i paid 14000 alone in just rent

The Federal Standard Deduction is based on your filing status and age.  It is not based on individual expenses.

 

Standard deductions for 2019

  • Single - $12,200 add $1,650 if age 65 or older
  • Married Filing Separately - $12,200 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,350 add $1,650 if age 65 or older
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