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I'm working with the What-if Worksheets provided on the 2017 TTax Premier desktop version on Win10. Upon clicking the Use 2018 Rates box, I see the standard deduction for MFJ change to 24,000 and the personal exemption disappear. But I don't see where the elderly credit of $1300 each (we're both over 65) shows up in reaching the taxable income figure. What am I missing? Thanks!
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It is not a tax credit, but rather an increased Standard deduction. So, for MFJ, that would be $26,600.
Be sure your DOB's are correct in My Info.
It is not a tax credit, but rather an increased Standard deduction. So, for MFJ, that would be $26,600.
Be sure your DOB's are correct in My Info.
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