Filing Deductions

[Macs4ever]

I noticed that there is a typo on the 1040 Form under deductions. It says “Married filing jointly, enter 29,200” actually it should say "Married filing jointly, enter 32,000.” Here is a jpg that says 29,200.

See, the IRS.gov site for 1040 and 1040SR Instructions (https://www.irs.gov/pub/irs-pdf/i1040gi.pdf).

Thanks

[DoninGA]

Look at Chart A on page 9 of the Form 1040 Instructions for 2024 - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=9

Standard deductions for 2024

Single - $14,600 add $1,850 if age 65 or older
Married Filing Separately - $14,600 add $1,550 if age 65 or older
Married Filing Jointly - $29,200 add $1,550 for each spouse age 65 or older
Head of Household - $21,900 add $1,950 if age 65 or older

[xmasbaby0]

How old were you and your spouse at the end of 2024?

The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

[xmasbaby0]

How old were you and your spouse at the end of 2024?

The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2024 Form 1040.

2024 STANDARD DEDUCTION AMOUNTS

SINGLE $14,600    (65 or older/legally blind + $1950)

MARRIED FILING SEPARATELY            $14,600    (65 or older/legally blind + $1550)

MARRIED FILING JOINTLY $29,200    (65 or older/legally blind + $1550)

HEAD OF HOUSEHOLD $21,900    (65 or older/legally blind + $1950)

[Macs4ever]

Thank you, I missed that info.