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Tom G1
New Member

Standard deduction on 1040 line 12 shows $27,400., but my itemized deductions are less than $13,000. Why not $24,800?

 
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Accepted Solutions
DoninGA
Level 15

Standard deduction on 1040 line 12 shows $27,400., but my itemized deductions are less than $13,000. Why not $24,800?

Are each of you age 65 or older?  If so, then your standard deduction is increased by $1,300 for both of you.

 

Standard deductions for 2020

  • Single - $12,400 add $1,650 if age 65 or older
  • Married Filing Separately - $12,400 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,650 add $1,650 if age 65 or older

View solution in original post

1 Reply
DoninGA
Level 15

Standard deduction on 1040 line 12 shows $27,400., but my itemized deductions are less than $13,000. Why not $24,800?

Are each of you age 65 or older?  If so, then your standard deduction is increased by $1,300 for both of you.

 

Standard deductions for 2020

  • Single - $12,400 add $1,650 if age 65 or older
  • Married Filing Separately - $12,400 add $1,300 if age 65 or older
  • Married Filing Jointly - $24,800 add $1,300 for each spouse age 65 or older
  • Head of Household - $18,650 add $1,650 if age 65 or older

View solution in original post

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