standard deduction

Forum|Forum|5 years ago
February 26, 2021
1 reply
5 views

Can I claim the standard deduction if my parents claim me as a dependent?

xmasbaby0

Level 15

The software uses your standard deduction automatically. You do not have to "claim" it.

The standard deduction amount for an individual who may be claimed as a dependent by another taxpayer cannot exceed the greater of $1,100 or the sum of $350 and the individual’s earned income (not to exceed the regular standard deduction amount).

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Hal_Al

Level 15

Simple answer: No.

A dependent does not automatically get the full $12,400 standard deduction. A dependent's standard deduction is $1100 or his earned income + $350 (but not more than $12,400). For the purposes of that calculation, any taxable scholarship is treated as earned income. Unemployment compensation is not earned income.