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shayesship
New Member

For 2021 the Standard tax deduction for over 65 yr old was $14,250. Do we know what it will be for 2022?

 
3 Replies
Mike9241
Level 15

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. 

NCperson
Level 15

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 😎

xmasbaby0
Level 15

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.**
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