How come my Standard Deduction was $12,500? I thought Married Filing Jointly should have been $24,000. I already filed and my wife told me it should have been $24,000?

posted

Connect with an expert

1 Best answer

Accepted Solutions

How come my Standard Deduction was $12,500? I thought Married Filing Jointly should have been $24,000. I already filed and my wife told me it should have been $24,000?

The Standard Deductions increase in tax year 2018 and beyond, not in tax year 2017.

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

View solution in original post

1 Reply

How come my Standard Deduction was $12,500? I thought Married Filing Jointly should have been $24,000. I already filed and my wife told me it should have been $24,000?

The Standard Deductions increase in tax year 2018 and beyond, not in tax year 2017.

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

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post