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New Member
posted Jan 16, 2025 11:12:32 PM

I am reading the irs increased the standard deduction for married joint file to $30,000. However I just used turbo tax to do my 2024 taxes and they only gave me $29,200

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2 Best answers
Level 15
Jan 17, 2025 12:05:09 AM

You must have read the new amounts for now in 2025.   For 2024 the standard deduction amounts are:

Single 14,600 + 1,950 for 65 and over or blind (16,550)

HOH 21,900 + 1,950 for 65 and over or blind (23,850)

Joint 29,200 + 1,550 for each 65 and over or blind (30,750/32,300)

Married filing Separate 14,600 + 1,550 for 65 and over or blind (16,150)

 

See IRS pub 501 chart on page 24

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

Level 15
Jan 17, 2025 12:10:22 AM

Yes that's for your 2025 tax return you file in 2026
https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025

 

2 Replies
Level 15
Jan 17, 2025 12:05:09 AM

You must have read the new amounts for now in 2025.   For 2024 the standard deduction amounts are:

Single 14,600 + 1,950 for 65 and over or blind (16,550)

HOH 21,900 + 1,950 for 65 and over or blind (23,850)

Joint 29,200 + 1,550 for each 65 and over or blind (30,750/32,300)

Married filing Separate 14,600 + 1,550 for 65 and over or blind (16,150)

 

See IRS pub 501 chart on page 24

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

Level 15
Jan 17, 2025 12:10:22 AM

Yes that's for your 2025 tax return you file in 2026
https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025