What form in TurboTax shows how the standard deduc...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
donald029
New Member

What form in TurboTax shows how the standard deduction is calculated? The standard deduction now showing is twice the $24,800 I expected.

 
2 Replies
macuser_22
Level 15

What form in TurboTax shows how the standard deduction is calculated? The standard deduction now showing is twice the $24,800 I expected.

Duplicate post see answer here:

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/my-standard-deduction-appears-to...

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
DoninGA
Level 15

What form in TurboTax shows how the standard deduction is calculated? The standard deduction now showing is twice the $24,800 I expected.

The Standard Deduction is a fixed amount as shown on the Federal Tax Return Form 1040 Line 12.

 

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

If your itemized deduction on Schedule A are greater than the standard deduction for your filing status the itemized deductions will be used on Form 1040 Line 12.

 

 

Dynamic AdsDynamic Ads
v
Privacy Settings