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mcs9sobe
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I just filed my taxes as single and was given a standard deduction of $6,350. I was told that under new tax law it should be $12,000. Is Turbo Tax not up to date?

2017 W-2 Form
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I just filed my taxes as single and was given a standard deduction of $6,350. I was told that under new tax law it should be $12,000. Is Turbo Tax not up to date?

The new standard deduction will be in effect when you prepare your 2018 tax return next year in 2019.

2017 Standard Deductions

Single    $6350  (65 or older + $1550)

Married Filing Separately   $6350  (65 or older +  $1250)

Married Filing Jointly           $12,700  (65 or older + $1250@)

Head of Household $9350  (65 or older + $1550)

https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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I just filed my taxes as single and was given a standard deduction of $6,350. I was told that under new tax law it should be $12,000. Is Turbo Tax not up to date?

The new standard deduction will be in effect when you prepare your 2018 tax return next year in 2019.

2017 Standard Deductions

Single    $6350  (65 or older + $1550)

Married Filing Separately   $6350  (65 or older +  $1250)

Married Filing Jointly           $12,700  (65 or older + $1250@)

Head of Household $9350  (65 or older + $1550)

https://turbotax.intuit.com/tax-tips/irs-tax-return/2017-tax-reform-legislation-what-you-should-know...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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