At this time I believe I am going to be filing head of household on my taxes. It would be me and for my daughter (17) when you switch that from filing joint do you lose a considerable amount on your return?
Thank You.
Am I Head of Household?
https://ttlc.intuit.com/questions/1894553-do-i-qualify-for-head-of-household
https://ttlc.intuit.com/questions/2900097-what-is-a-qualifying-person-for-head-of-household
If you qualify as Head of Household, when you enter your marital status (single or married filing separately) into MyInfo, and then enter your qualifying dependent, TurboTax will offer HOH as your filing status.
Your standard deduction is less if you file HOH instead of filing joint.
Your standard deduction lowers your taxable income. It is not a refund. You will see your standard or itemized deduction amount on line 12a of your 2021 Form 1040.
2021 STANDARD DEDUCTION AMOUNTS
SINGLE $12,550 (65 or older + $1700)
MARRIED FILING SEPARATELY $12,550 (65 or older + $1350)
MARRIED FILING JOINTLY $25,100 (65 or older + $1350 per spouse)
HEAD OF HOUSEHOLD $18,800 (65 or older +$1700)
Legally Blind + $1350