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Is the NY state program properly calculating the standard deduction for over 65 taxpayer

 
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MonikaK1
Expert Alumni

Is the NY state program properly calculating the standard deduction for over 65 taxpayer

TurboTax will automatically use itemized deductions, if entered, instead of the standard deduction for New York if the itemized deductions exceed the standard deduction.

 

New York has a single standard deduction for each filing status:

 

  • Single (and can be claimed as a dependent on another taxpayer's federal return) $3,100
  • Single (and cannot be claimed as a dependent on another taxpayer's federal return) $8,000
  • Married filing joint return $16,050
  • Married filing separate return $8,000
  • Head of household (with qualifying person) $11,200
  • Qualifying surviving spouse $16,050

 

You can view your entire return or just your 1040 form before you e-file to see how your taxes were calculated and to preview the forms that TurboTax has prepared from your entries:

  1. Sign in to your TurboTax account
  2. Open or continue your return
  3. Select Tax Tools from the menu (if you don't see this, select the menu icon in the upper-left corner)
  4. With the Tax Tools menu open, you can then:
    • Preview your entire return: Select Print Center and then Print, save or preview this year's return (you may be asked to register or pay first if you choose this option)
    • View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu
    • You can also see the state return summaries in the left menu

 

New York does have some special credits for seniors, such as a real property tax credit.

 

 

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