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wendyvs
New Member

When is turbo tax going to be updated with the new standard deduction amount?

 
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Accepted Solutions
DoninGA
Level 15

When is turbo tax going to be updated with the new standard deduction amount?

The Standard Deductions for tax year 2017 are correct.  The new standard deductions will be effective for tax year 2018 and beyond.

Standard deductions for 2017 

  • Single - $6,350 add $1,550 if age 65 or older
  • Married Filing Separately - $6,350 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,350 add $1,550 if age 65 or older

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1 Reply
DoninGA
Level 15

When is turbo tax going to be updated with the new standard deduction amount?

The Standard Deductions for tax year 2017 are correct.  The new standard deductions will be effective for tax year 2018 and beyond.

Standard deductions for 2017 

  • Single - $6,350 add $1,550 if age 65 or older
  • Married Filing Separately - $6,350 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,350 add $1,550 if age 65 or older
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