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For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?
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posted
August 22, 2022
6:19 PM
last updated
August 22, 2022
6:19 PM
3 Replies
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For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?
$14,700 or $450 more than 2021. You know you could have done a web search for this or gone to the IRS website.
August 22, 2022
6:28 PM
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For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?
@shayesship and it's angling towards $15,700 for 2023 based on current estimates of inflation.
https://thefinancebuff.com/tax-brackets-standard-deduction-0-capital-gains.html
@Mike9241 - and as a member of the community, you were happy to provide the answer to a community member that asked 😎
August 22, 2022
6:37 PM
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For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?
2022 STANDARD DEDUCTION AMOUNTS
SINGLE $12,950 (65 or older + $1750)
MARRIED FILING SEPARATELY $12,950 (65 or older + $1750)
MARRIED FILING JOINTLY $25,900 (65 or older + $1400 per spouse)
HEAD OF HOUSEHOLD $19,400 (65 or older +$1750)
Legally Blind + $1750
**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.**
August 22, 2022
7:00 PM
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