turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Should your figures for the standard deduction be different from the irs instruction book?

How do you get the sr. enhancement + 5K addition to the standard deduction?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Should your figures for the standard deduction be different from the irs instruction book?

Look at Schedule 1a part 5. You will find it there not on the standard deduction line. 

MindyB
Employee Tax Expert

Should your figures for the standard deduction be different from the irs instruction book?

Your standard deduction should match the IRS rules, but the amount increases if you are 65 or older. You'll get an additional deduction of $2,000 (single) or $1,600 (per spouse).

 

There is also an additional deduction, not included with the standard deduction. The maximum amount for this deduction is $6,000 per senior. This additional deduction for seniors is calculated automatically based on the birthday you have entered in your tax return.

  

Note, this deduction has income limitations.  It begins phasing out at income of $75,000 for a single filer (or $150,000 married) and is completely phased out at income of $175,000 for a single filer (or $250,000 married). 

 

This deduction is located on Schedule 1-A Additional Deductions, Part V. The total additional deductions will be summed and appear on your 1040, line 13b.

 

You can check this in TurboTax Online by navigating to Tax Tools on the left of your screen, choose Tools, then View Tax Summary. On the left of the screen, select Preview my 1040, and scroll to Schedule 1-A Part V.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question