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Ahloyda
New Member

I thought the Standard Deduction for married filed jointly this year is $24,000...is it for the following year?

 
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DoninGA
Level 15

I thought the Standard Deduction for married filed jointly this year is $24,000...is it for the following year?

The increase in the Standard Deduction starts in tax year 2018.

Standard deductions for 2017 

  • Single - $6,350 add $1,550 if age 65 or older
  • Married Filing Separately - $6,350 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,350 add $1,550 if age 65 or older

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1 Reply
DoninGA
Level 15

I thought the Standard Deduction for married filed jointly this year is $24,000...is it for the following year?

The increase in the Standard Deduction starts in tax year 2018.

Standard deductions for 2017 

  • Single - $6,350 add $1,550 if age 65 or older
  • Married Filing Separately - $6,350 add $1,250 if age 65 or older
  • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
  • Head of Household - $9,350 add $1,550 if age 65 or older

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