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omarman1
New Member

Didn't the IRS increase the standard deduction to $13,850 for 2023?

 
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4 Replies

Didn't the IRS increase the standard deduction to $13,850 for 2023?

Standard deductions for Tax Year 2022

  • Single - $12,950 add $1,750 if age 65 or older
  • Married Filing Separately - $12,950 add $1,400 if age 65 or older
  • Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
  • Head of Household - $19,400 add $1,750 if age 65 or older

Didn't the IRS increase the standard deduction to $13,850 for 2023?

The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700 up $1,800 from the prior year. For single taxpayers and married individuals filing separately, the standard deduction rises to $13,850 for 2023, up $900, and for heads of households, the standard deduction will be $20,800 for tax year 2023, up $1,400 from the amount for tax year 2022.

Didn't the IRS increase the standard deduction to $13,850 for 2023?

The tax returns being filed in calendar year 2023 are for Tax Year 2022.

Didn't the IRS increase the standard deduction to $13,850 for 2023?

Yes 13,850 for 2023 returns you file next year in 2024.  We are doing 2022 returns now for the year ending Dec 31, 2022.

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