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Level 2
May 18, 2021
Solved

Standard Deduction

  • May 18, 2021
  • 1 reply
  • 20 views

Using Turbo Tax my daughter's standard deduction came up as 5, 174 - why isn't it 12,400?

Best answer by xmasbaby0

Is she being claimed as a dependent?

 

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).

1 reply

xmasbaby0Level 15Answer
Level 15
May 18, 2021

Is she being claimed as a dependent?

 

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.**
Level 2
May 18, 2021

Thank you!