Standard Deduction for those over 65 - No explanation/breakdown provided when reviewing - Feedback for Intuit

In case they do not change all the worksheets for you---here are the standard deduction amounts for the upcoming 2021 tax returns:

2021 STANDARD DEDUCTION AMOUNTS

SINGLE $12,550  (65 or older + $1700)

MARRIED FILING SEPARATELY $12,550  (65 or older + $1350)

MARRIED FILING JOINTLY $25,100  (65 or older + $1350 per spouse)

HEAD OF HOUSEHOLD  $18,800  (65 or older +$1700)

Legally Blind + $1350

Great suggestions. To actually submit Feedback, you need to include the word Feedback on the title of your post to this forum and one of the moderators will submit it for you.

George,

  Thank you for your reply. Is there a way to update the title to include the word "Feedback" so the moderator will see this post?

Thanks!

Click the three dots at the upper right of the post and chose edit.  If it does not let you edit the title, you can cut and and paste your suggestion into another entry and put Feedback in the title.

Thank You! The title has now been updated.

If you are 65 or older you would have filed on a Form 1040SR----did you look at the last page of the form that shows the standard deductions for 2020?

https://www.irs.gov/pub/irs-pdf/f1040s.pdf

I appreciate you trying to help, but your answer is not quite correct:

  1.)  From the IRS website ( this is a quote from the website):

       Form 1040-SR is available as an "optional" alternative to using Form 1040 for taxpayers who are age 65 or older. Form 1040-SR uses the same schedules and instructions as Form 1040 does.

   2.) Turbotax chose form 1040 not form 1040SR for me:

I used TurboTax to create a new return.  Turbotax transferred the data from my previous return and chose to create a form 1040 even with the information that I was 65 years old.  I was not prompted to choose form 1040 or 1040SR.  Using form 1040, TurboTax CORRECTLY calculated the standard deduction for my age.  TurboTax did not need form 1040SR to correctly calculate the deduction.  However, when I drilled down into the worksheets there is no information about the increased deduction.  When I right clicked, and sought additional information there was none. Users buy TurboTax to prepare their taxes AND to provide guidance and information. I truly hope you try this first should you decide to make an additional comment.

The problem I reported is valid and I am requesting an update for this problem.

You don't get prompted.  If you are using the Turbo Tax online version it automatically gives you the 1040SR if you or your spouse is 65 or older.  It may show the regular 1040 on the screen but if you print it should be the 1040SR.

In the Desktop program it will give you the 1040SR but you can select which one to use.  You can switch to forms and the Info Wks part II has a selection to select 1040SR or not.

If you are using the Desktop program (and probably in Online also) you can click on Standard Deduction to see the help box.  It is on this screen and the next screen.  Is this what you are looking for?

One again, thank you for your answer , but it does not address this problem

I am using the desktop version of TurboTax. I was not prompted for the choice of form 1040 or 1040SR.  By default TurboTax chose form 1040, not 1040SR.  As I walked through the process of preparing taxes, the standard deduction for someone 65 or older was calculated CORRECTLY even using form 1040.

Using form 1040 is a VALID choice, form 1040SR is "optional" for seniors ( IRS website ).

I am not asking about choosing between form 1040 or form 1040SR.  I am reporting that there is no information about the calculation for the increased standard deduction for someone 65 or older when you drill down into the worksheets.

As for using form 1040SR, has anyone responding here  who is recommending 1040SR,  filled out form 1040SR and drilled down to get the explanation on how the standard deduction is calculated?  You may get the same result as I did with form 1040.  Should you decide to respond, please try that first.  Even then, TurboTax desktop did not prompt for a choice of forms, and I am not about to sift through TurboTax documentation for a form that is optional and possibly get the same result  I did with form 1040.

My point is still valid and I am requesting an update by TurboTax.

I don't know why you didn't get the 1040SR it is automatic unless you go and select Yes or No as on my screen shot from the Desktop program.   The Forms Mode just shows you the plain 1040 but if you print it out you will get the 1040SR.  See on my screen shot it says....PRINT 1040SR instead of 1040.  Or double check your birth dates.  When did you turn 65?  But if you got the increased Standard Deduction then it knows your age.  

TurboTax gave you the deduction you're entitled to.

see the note on the left of Form 1040 line 12, where it says, see instr. which stands for see instructions, which is what you did in a roundabout way, after the fact.

TurboTax  2020 has a lot of issues/bugs.

This is probably the least of them, even if it did confuse you for a while.

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@DweedleDee wrote:

One again, thank you for your answer , but it does not address this problem

 

I am using the desktop version of TurboTax. I was not prompted for the choice of form 1040 or 1040SR.  By default TurboTax chose form 1040, not 1040SR.  As I walked through the process of preparing taxes, the standard deduction for someone 65 or older was calculated CORRECTLY even using form 1040.

 

Using form 1040 is a VALID choice, form 1040SR is "optional" for seniors ( IRS website ).

 

I am not asking about choosing between form 1040 or form 1040SR.  I am reporting that there is no information about the calculation for the increased standard deduction for someone 65 or older when you drill down into the worksheets.

 

As for using form 1040SR, has anyone responding here  who is recommending 1040SR,  filled out form 1040SR and drilled down to get the explanation on how the standard deduction is calculated?  You may get the same result as I did with form 1040.  Should you decide to respond, please try that first.  Even then, TurboTax desktop did not prompt for a choice of forms, and I am not about to sift through TurboTax documentation for a form that is optional and possibly get the same result  I did with form 1040.

 

My point is still valid and I am requesting an update by TurboTax.

 

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The 1040SR is only for paper forms that are in larger type.  That is the only difference.  Congress thought those over 65 didn't see very well so they made the IRS print forms in larger toe for seniors.    Electronic  forms are not paper and they are all the same.

Your age (DOB) that is entered in  the personal information section tells TurboTax that you are over age 65 and it automatically adds the additional standard deduction amount on the 1040 form line 12 - nowhere else

"so they made the IRS print forms in larger toe[sic] for seniors.   "

But all the other related forms other than 1040 are still the same, so how does that help, exactly?

Ask your congress person who passed the Bipartisan Budget Act of 2018  that requires it (section 41106).  Do most Congress acts make sense?

https://www.congress.gov/bill/115th-congress/house-bill/1892/text

SEC. 41106. <<NOTE: 26 USC 7805 note.>> FORM 1040SR FOR SENIORS.
(a) In General.--The Secretary of the Treasury (or the Secretary's
delegate) shall make available a form, to be known as ``Form 1040SR'',
for use by individuals to file the return of tax imposed by chapter 1 of
the Internal Revenue Code of 1986. Such form shall be as similar as
practicable to Form 1040EZ, except that--
(1) the form shall be available only to individuals who have
attained age 65 as of the close of the taxable year,
(2) the form may be used even if income for the taxable year
includes--
(A) social security benefits (as defined in section
86(d) of the Internal Revenue Code of 1986),
(B) distributions from qualified retirement plans
(as defined in section 4974(c) of such Code), annuities
or other such deferred payment arrangements,
(C) interest and dividends, or
(D) capital gains and losses taken into account in
determining adjusted net capital gain (as defined in
section 1(h)(3) of such Code), and
(3) the form shall be available without regard to the amount
of any item of taxable income or the total amount of taxable
income for the taxable year.

While that law says nothing about larger type, the IRS decided to revise the 1040 form for everyone to a "simple" one page form with new schedules.  But the law required that the  1040SR could ONLY be available to seniors so to make the form unique to seniors they increased the type size for the 1040SR only, otherwise the 1040 and 1040SR are exactally the same now.  AFAIK it was an IRS workaround to comply with the law after they revised the form to be the same for everyone - the SR had to be different.

Even though TT has my age input, it will not give me the age 65 plus additional deduction.  I spoke with a rep who said he would call back but never did. 

So, it is using my itemized which is less and still giving me an extra 600 for charitable contributions.  What am I doing wrong

In order for the additional amount to be added to your standard deduction for 2021, you must have been born before January 2, 1957.  

Try using the detailed steps in the following TurboTax help article to change to the standard deduction instead of itemized deductions: 

How do I change from the standard deduction to itemized (or vice-versa)?

@sfeldma2

@sfeldma2   You have the 600 on 1040 line 12b?  Then you are getting the Standard Deduction on line 12a.  Or the 600 charity would be added to schedule A not line 12b.  Do you have the schedule A?  How much is the deduction on line 12a?  You might be misinterpreting the amount.   What do you think your Standard Deduction should be?

I am a single taxpayer filing income taxes for the year 2021.

Question:   Does the additional amount ($1,700) added to the Standard Deduction for those over 65 years old apply to income taxes for 2021 if you were 64 years old in 2021, but turned 65 years old in early 2022, when you filed your taxes?

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@taxpayerNY wrote:

I am a single taxpayer filing income taxes for the year 2021.

Question:   Does the additional amount ($1,700) added to the Standard Deduction for those over 65 years old apply to income taxes for 2021 if you were 64 years old in 2021, but turned 65 years old in early 2022, when you filed your taxes?

 

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No.  You had to be born before January 2, 1957 on the 2021 tax return to be eligible for the additional amount added to the Standard Deduction.

Thank you for the reply!