Just finished entering my data for 2020 and the deduction on 1040 line 12 is $2600 larger than the standard deduction of $24800 with no explanation of why. Schd A has no values of $2600 on it and the total is smaller than the standard deduction anyway. Clicking on the line 12 number takes me to Schd A but, as I say, no explanation of how the number comes to be. Anyone know how I can find out how the value for line 12 is determined?
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Since you're married filing jointly, it sounds like you and your spouse qualify for the additional standard deduction amount for age and/or blindness. That accounts for the additional $2,600.
Your standard deduction for 2020 starts at $24,800. Then,
Add $1,300 if you were born before January 2, 1956.
Add $1,300 if your jointly-filing spouse was born before January 2, 1956.
Add $1,300 if you were blind as of December 31, 2020.
Add $1,300 if your jointly-filing spouse was blind as of December 31, 2020.
Are you and your spouse 65 or older?
2020 Standard Deduction Amounts
Single $12,400 (+ $1650 65 or older)
Married Filing Separate $12,400 (+ $1300 if 65 or older)
Married Filing Jointly $24,800 (+ $1300 for each spouse 65 or older)
Head of Household $18,650 (+ $1650 for 65 or older)
Since you're married filing jointly, it sounds like you and your spouse qualify for the additional standard deduction amount for age and/or blindness. That accounts for the additional $2,600.
Your standard deduction for 2020 starts at $24,800. Then,
Add $1,300 if you were born before January 2, 1956.
Add $1,300 if your jointly-filing spouse was born before January 2, 1956.
Add $1,300 if you were blind as of December 31, 2020.
Add $1,300 if your jointly-filing spouse was blind as of December 31, 2020.
Thanks!
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