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New Member
posted Jun 4, 2019 3:11:21 PM

My standard deduction should be 12000?

0 4 289
4 Replies
Level 15
Jun 4, 2019 3:11:23 PM

The increase in Standard Deductions is not effective until the 2018 tax year, not for the 2017 tax year.

Standard deductions for 2017 

  • Single - $6,350 add $1,550 if age 65 or older
  • Married Filing Separately - $6,350 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,350 add $1,550 if age 65 or older

New Member
Jun 4, 2019 3:11:24 PM

how will that 15,200 MFJ both over 65 change in 2018?

Level 15
Jun 4, 2019 3:11:26 PM

For 2018 - Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older

New Member
Jun 4, 2019 3:11:27 PM

thanks that will more than cover loss of exemptions