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Returning Member
posted Jun 1, 2019 3:32:54 PM

How do i know that the first 20,000 has not been taxed

my wifes  cpa that does her schedule k said the first 20,000 was nontaxable where can  i see this on my home and business

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1 Replies
Not applicable
Jun 1, 2019 3:32:55 PM

On the Home & Business desktop version, you can click on Forms, then Form 1040, line 8, standard or itemized deduction. For married filing jointly filing status, the standard deduction is $24, 000 for 2018, unless your itemized deductions exceed that amount.

Hope that helps! Let me know if that answers your question.