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Question

Question about get deductions and exemption

Forum|Forum|7 years ago
June 6, 2019
1 reply
22 views

How were these figures calculated? I believe there is an error somewhere

TurboTax Free Edition Online

Level 13

Those items are not calculated, they are fixed by law. Your personal exemption is $4,050, and you get the same amount for each dependent exemption. Your standard deduction is based on your filing status
2016 Standard Deduction
Taxpayer under 65, not claimed as a dependent
$6,300 for Single
$12,600 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
$9,300 for Head of Household
$6,300 for Married Filing Separately
For over 65 or blind, add $1,250 for each instance or add
$1,550 each instance if single and not a surviving spouse.