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bd40sls
New Member

Can I input standard deduction amount directly without itemizing individual deductions? I know itemized deductions will be less than standard deduction .

How do I input standard deduction on 1099SR using Turbotax
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2 Replies
MinhT1
Expert Alumni

Can I input standard deduction amount directly without itemizing individual deductions? I know itemized deductions will be less than standard deduction .

In TurboTax, you do not need to input your standard deduction.

 

If you do not enter itemized deductions or if the total itemized deductions is less than the standard deduction, TurboTax will automatically use the standard deduction.

 

For tax year 2024, standard deductions are:

  • $29,200 for married couples whose filing status is “married filing jointly” and surviving spouses;
  • $14,600 for singles and married couples whose filing status is “married filing separately”; and
  • $21,900 for taxpayers whose filing status is “head of household.”

 

The additional standard deduction for a blind taxpayer—i.e. a taxpayer whose vision is less than 20/200— and for a taxpayer who is age 65 or older at the end of the year is for each instance:

  • $1,550 for married individuals; and
  • $1,950 for singles and heads of household.

 

 

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Can I input standard deduction amount directly without itemizing individual deductions? I know itemized deductions will be less than standard deduction .

The software automatically uses your standard deduction unless you enter enough itemized deductions to exceed your standard deduction.  You do not have to do anything to make the software use standard deduction.

 

It sounds like you are using a 1040SR which indicates you are 65 or older so you have a higher standard deduction based on the date of birth you entered in MY INFO.  The software will automatically use that amount.

 

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

 

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

**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.**

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