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New Member
posted Feb 6, 2022 9:40:35 AM

I did standard deductions and it shows my dollar amount equaling $350.00 more than my total income. Is this right?

0 4 535
4 Replies
Level 15
Feb 6, 2022 9:42:42 AM

Where?  On what line?  The Standard Deduction can be more than your income.  Then the taxable income oon line 15 will be zero.  

Level 15
Feb 6, 2022 9:48:40 AM

if you are claimed as a dependent and only had earned income your standard deduction could be $350 more than your earned income

Level 15
Feb 6, 2022 9:52:42 AM

Aw yes.  Forgot about that.  That must be it.

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:

…..$1,100 or

…..Your earned income for the year + $350 (but not more than 12,550)

 

So you would get a minimum of $1,100 to a max of 12,550.

 

See the 1040 worksheet on page 33
https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

 

New Member
Feb 6, 2022 10:18:18 AM

Ok, thanks. This is only the second year doing taxes for my daughter and was very confused by that.