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Level 2
May 16, 2021
Solved

Standard Deduction

  • May 16, 2021
  • 1 reply
  • 8 views

My filing status for the 2020 tax year is married filing jointly.  TurboTax calculated my standard deduction as $24,850.  I thought for this filing status the standard deduction was $24,800.  Why the $50 difference?

    Best answer by VolvoGirl

    Did you enter any Charity Deductions? You get to deduct up to 300 for charity in addition to the Standard Deduction on 1040 line 10b. So look there for the 50.

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Level 15
    May 16, 2021

    Did you enter any Charity Deductions? You get to deduct up to 300 for charity in addition to the Standard Deduction on 1040 line 10b. So look there for the 50.

    GTYJ81Author
    Level 2
    May 16, 2021

    Yes, that's the reason.  Thanks for the help!