I am filing taxes for the year 2023. Income is less than 13800 standard deduction. But turbotax still shows the old value of 12,400. Any faced this issue?

[DawnC]

Are you a dependent?    Are you sure you are not using the 2022 desktop version.   You have to be using the 2023 software - Online is only for 2023, so if you are using Online, only the 2023 standard deduction amount are used.   

For single taxpayers and married individuals filing separately, the Standard Deduction is $13,850 in 2023. 

For married couples filing jointly is $27,700, and  

For heads of households, the Standard Deduction is $20,800

  

If you're at least 65 years old or blind, you can claim an additional deduction in 2023 of:

• $1,850 for single or Head of Household
• $1,500 for married or Qualified Surviving Spouse.

If you're both 65 and blind, the additional deduction amount is doubled. 

If you are a dependent on someone else's tax return, your standard deduction can be less than the amounts listed above.  If you can be claimed as a dependent by another taxpayer, your standard deduction for 2023 is limited to the greater of: (1) $1,250, or (2) your earned income plus $400 (but the total can't be more than the basic standard deduction for your filing status).

[sriharis]

I am filing for my minor kid. I am using Turbotax online for 2023.

[VolvoGirl]

The Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,250 or

…..Your earned income for the year + $400 (but not more than 13,850))

So you would get a minimum of $1,250.

See Table 8 Standard Deduction worksheet for Dependents on Page 26

https://www.irs.gov/pub/irs-pdf/p501.pdf

Or the 1040 worksheet on page 34

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf