Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limiting the single deduction to $12,200.

moldred1 · ‎March 28, 2020

KarenM90 · ‎March 28, 2020

Please go back and double-check the birth dates to qualify for the extra standard deduction. Here is a link that provides the birth date limitations as well as additional details. Standard Deduction

If you are having problems with the calculation, please double-check the dates and answers to the My Info questions in the 1st section of TurboTax to be sure you didn't accidentally check an incorrect box.

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xmasbaby0 · ‎March 28, 2020

It goes by your age at the end of 2019. If you turned 65 in 2020 it does not "count" yet.

Your standard deduction lowers your taxable income. It is not a refund.

2019 Standard Deduction Amounts

Single $12,200 (+ $1650 65 or older)

Married Filing Separate $12,200 (+ $1300 if 65 or older)

Married Filing Jointly $24,400 (+ $1300 for each spouse 65 or older)

Head of Household $18,350 (+ $1650 for 65 or older)

Look on line 9 of your 2019 Form 1040 to see your itemized/standard deduction amount

**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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Is everyone aware that the standard deduction for those over 65 is $13,850? Turbo Tax is limiting the single deduction to $12,200.