topic Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limiting the single deduction to $12,200. in Deductions & credits

Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limiting the single deduction to $12,200.

moldred1 — Sat, 28 Mar 2020 22:29:56 GMT

Re: Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limi...

KarenM90 — Sat, 28 Mar 2020 22:47:41 GMT

Please go back and double-check the birth dates to qualify for the extra standard deduction. Here is a link that provides the birth date limitations as well as additional details. Standard Deduction

If you are having problems with the calculation, please double-check the dates and answers to the My Info questions in the 1st section of TurboTax to be sure you didn't accidentally check an incorrect box.

Re: Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limi...

xmasbaby0 — Sat, 28 Mar 2020 23:18:10 GMT

It goes by your age at the end of 2019. If you turned 65 in 2020 it does not "count" yet.

Your standard deduction lowers your taxable income. It is not a refund.

2019 Standard Deduction Amounts

Single $12,200 (+ $1650 65 or older)

Married Filing Separate $12,200 (+ $1300 if 65 or older)

Married Filing Jointly $24,400 (+ $1300 for each spouse 65 or older)

Head of Household $18,350 (+ $1650 for 65 or older)

Look on line 9 of your 2019 Form 1040 to see your itemized/standard deduction amount