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JohnNich
Returning Member

2022 Desktop Home & Business does not calculate correct standard decducton for othose over 65

TurboTax is using a value of $25900 for standard deduction though I am now over 65 and that should add $1400 to the total. Tried phone support without successful resolution. How do I open a trouble ticket against the product or get help with the problem?

 

If it helps I am using Home&Business on Windows platform.

 

Thanks

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3 Replies
JohnNich
Returning Member

2022 Desktop Home & Business does not calculate correct standard decducton for othose over 65

Think I found my own answer. TurboTax did it right.  I don't get the extra deduction until 2023. Darn! 

 

From Publication 554 (2022), Tax Guide for Seniors: "Higher standard deduction. If you don't itemize deductions, you are entitled to a higher standard deduction if you are age 65 or older at the end of the year. You are considered age 65 at the end of the year if your 65th birthday is on or before January 1 of the following year."

2022 Desktop Home & Business does not calculate correct standard decducton for othose over 65

Right it goes by your age on Dec 31.  

JohnB5677
Employee Tax Expert

2022 Desktop Home & Business does not calculate correct standard decducton for othose over 65

You are correct, if you're over 65, you should get an additional $1,400.

  • The only reason I can identify for that to happen is if your finger slipped and you got the wrong year for your date of birth.
  • Please go to the FORMS mode in the upper right hand corner.
  • Select Personal Wks (for your name)
  • Check the Date of birth that was entered.

If that date is correct, please contact us again.

 

For single taxpayers and married individuals filing separately, the standard deduction is $12,950 in 2022.

For married couples filing jointly is $25,900, and 

For heads of households, the standard deduction is $19,400.

 

If you're at least 65 years old or blind, you can claim an additional 2022 standard deduction of $1,400 ($1,750 if using the single or head of household filing status). 

If you're both 65 and blind, the additional deduction amount is doubled.

 

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