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