What tax year? What is your filing status? What do you see on line 12 of your 2020 Form 1040? Did you double check the dates of birth you entered in My Info? Remember it goes by your age at the end of 2020 for a 2020 tax return. (If you are working on a 2019 tax return, then you had to be 65 at the end of 2019.)
PREVIEW 1040
https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
2020 Standard Deduction Amounts
Single $12,400 (+ $1650 65 or older)
Married Filing Separate $12,400 (+ $1300 if 65 or older)
Married Filing Jointly $24,800 (+ $1300 for each spouse 65 or older)
Head of Household $18,650 (+ $1650 for 65 or older)
The Standard Deduction Worksheet is
ONLY
used if someone can claim you, or your spouse if filing jointly, as a dependent.
The TurboTax 2020 software correctly calculates the Standard Deduction for tax year 2020. If filing as Married Filing Jointly and both are born before January 2, 1955, the Standard Deduction of $27,400 is entered on the Form 1040/1040SR on Line 12.
Reporters = myself + spouse, so 2.
In looking at line 12 as you suggested, the calculation is being done correctly ($24,800+($1,300*2)=$27,400
I got confused because when I clicked on the QuickZoom button under line 12 in the 1040SR worksheet, it sent me to Standard Deduction Worksheet for Dependents which clearly needs some work. It shows "Married filing jointly - $24,400" but supplies the correct value of $24, 800 on line 2, plus it does not carry over the correct value (2) into line 3b.
Not a big deal if it ultimately provides the correct standard deduction value I guess, but certainly something that someone should clean up in the forms.
I haven't figured out how to enter a new bug, but the 2021 form has the wrong dates in the standard deduction form for dependents. It still has 1956 and it should be changed to 1957. As a result, in the desktop version, there is no 1700 entered on the line 3b and the correct standard deduction isn't calculated on this form. Interestingly enough, the correct number is entered on the 1040, but the source document is incorrect.