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carverna
New Member

I am a full time student and my income is $10,000. How do I skip adding the standard dedcution because it is counting it as income and now I have to pay taxes on it?

 
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2 Replies

I am a full time student and my income is $10,000. How do I skip adding the standard dedcution because it is counting it as income and now I have to pay taxes on it?

No, you are misunderstanding something.   Your standard deduction is an amount of income you can get that is "tax free."   You are not paying tax on your standard deduction.   

 

If you are a full-time student under the age of 24 you are most likely being claimed as someone else's dependent.  That affects the amount of your standard deduction.

 

The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $400 and the individual’s earned income (not to exceed the regular standard deduction amount).

 

  You will see your standard or itemized deduction amount on line 12 of your 2022 Form 1040.

 

PREVIEW 1040

 

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**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.**

I am a full time student and my income is $10,000. How do I skip adding the standard dedcution because it is counting it as income and now I have to pay taxes on it?

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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