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

posted

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

1 Best answer

Accepted Solutions

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

View solution in original post

1 Reply

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

View solution in original post

Dynamic Ads

Dynamic Ads

v

Privacy Settings