Good evening,
I was preparing my joint return and will be taking the standard deduction. According to the IRS website, the standard deduction for 2023 is $27,700 plus an additional $1850 for my over-65 spouse, for a total of $29,550. TurboTax Home & Business calculated the deduction as $29,200 ($27,700 plus $1,500, last year's deduction). I called Intuit and shared my screen to point out the error - and the service rep wanted me to upgrade my product to speak to a tax specialist!
After 50 minutes (mostly on hold), I was told to call back - and they closed the ticket.
Obviously that was NOT the proper way to report an error in TurboTax Home & Business. What IS the proper way? TIA.
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You must have read the chart wrong. See IRS Pub 501 page 2
https://www.irs.gov/pub/irs-pdf/p501.pdf
For 2023 the standard deduction amounts are:
Single 13,850 + 1,850 for 65 and over or blind (15,700)
HOH 20,800 + 1,850 for 65 and over or blind (22,650)
Joint 27,700 + 1,500 for each 65 and over or blind (29,200/30,700)
Married filing Separate 13,850 + 1,500 for 65 and over or blind (15,350)
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