I am married and over the age of 65. While my standard deduction is calculated correctly I cannot find a worksheet that calculates the standard deduction. The deduction on my 1040 reflects the standard deduction plus the additional amount for a married senior - $24,800 plus $1,300 = $26,100. What I can't find is a worksheet that calculates the the $26,100.
As an experiment, I did change my year of birth on my personal information worksheet to 1980 to see if it eliminated the senior deduction. It did.
Wondering if there is a worksheet that does show the calculation for the $26,100?
Thanks
No not in Turbo Tax. It just goes by your ages.
See IRS publication 501 Tables 6 & 7 Standard Deduction Chart for Most People on page 24
No not in Turbo Tax. It just goes by your ages.
See IRS publication 501 Tables 6 & 7 Standard Deduction Chart for Most People on page 24