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Is there a limit to the standard deduction for dependent taxpayer for 2023?

 
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Is there a limit to the standard deduction for dependent taxpayer for 2023?

Yes.  The Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,150 or

…..Your earned income for the year + $400 (but not more than 13,850))

 

So you would get a minimum of $1,150.

 

See Table 8 Standard Deduction worksheet for Dependents on Page 26

https://www.irs.gov/pub/irs-pdf/p501.pdf

 

Or the 1040 worksheet on page 34

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

Is there a limit to the standard deduction for dependent taxpayer for 2023?

Update....the new minimum is 1,250 not 1,150.

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