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Ed McCauley1959
Returning Member

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

2018 1040: line 8. Std Deduction or Itemized

The std deduction for Married Filing Jointly is stated as $24,000. In the Q&A I chose "Standard Deduction." The only numbers on Schedule A are those generated by Turbotax, and the total is about $4,000, so Std Deduction should be used by TTax.

However, $25,300 appears on line 8. "Go to Supporting Forms" takes me to the 1040 worksheet with same info stated as line 8. No help here. The next link takes me to Schedule A, with my name highlighted.

 

Can anyone explain how this number $25,300 is being calculated?

7 Replies
Critter-3
Level 15

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

One of you is either 65 or older or blind ...  if so you get to add $1300 per instance to the base of $24000. 

 

https://www.forbes.com/sites/kellyphillipserb/2017/12/17/what-the-2018-tax-brackets-standard-deducti...

 

xmasbaby0
Level 15

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older)

Look at line 8 of your Form 1040 to see your standard or itemized deductions

 

Are you just now preparing your 2018 return?   Do you still need to prepare 2019, 2020, and 2021?

 

If you are 65 or older (or legally blind) you will have an extra amount for your standard deduction for each tax year.    The software uses the date of birth you enter to determine your age at the end of the tax year.

 

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

 

 

2020 Standard Deduction Amounts

 

Single $12,400   (+ $1650 65 or older)

Married Filing Separate  $12,400   (+ $1300 if 65 or older)

Married Filing Jointly $24,800   (+ $1300 for each spouse 65 or older)

Head of Household $18,650  (+ $1650 for 65 or older)

 

(+ $1300 if legally blind)

 

 

2021 STANDARD DEDUCTION AMOUNTS

 

SINGLE $12,550  (65 or older + $1700)

 

MARRIED FILING SEPARATELY $12,550  (65 or older + $1350)

 

MARRIED FILING JOINTLY $25,100  (65 or older + $1350 per spouse)

 

HEAD OF HOUSEHOLD  $18,800  (65 or older +$1700)

 

Legally Blind + $1350

**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.**
NCperson
Level 15

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

@Ed McCauley1959 - are you simply reviewing your previously submitted 2018 tax return or just now preparing your 2018 tax return,

 

if preparing it, note that the window to obtain any refund from 2018 closed on April, 15, 2022, meaning the IRS will not refund anything upon submission.  However, if you owe tax based on your 2018 tax return, you still owe it (plus penalties and interest).  

Ed McCauley1959
Returning Member

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

Perfect. Thanks!

Ed McCauley1959
Returning Member

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

Thanks. Very thorough and helpful.

Ed McCauley1959
Returning Member

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

Thanks!

 

I'm reviewing it.

 

According to the IRS, I never sent in my 2018 Return. I sent a copy of my postal confirmation and they responded  they apparently "lost my Return. Could I please sent it again." They also stated no penalties will apply and any refunds will contain appropriate interest.

 

 

SweetieJean
Level 15

2018 1040: line 8. Using Std Deduction, TTax generates $25,300 not $24,000 ???

Just a note that the Statute of Limitations for a State refund may be longer.

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