If 2023 1040 instructions say standard deduction for 2022 was $25,900 why does chart in 2022 1040-SR list it as $27,300? Which amount is correct?

[JohnW152]

It depends on whether you or your spouse were a certain age, or blind.

Form 1040-SR (2022) will display standard deductions based on whether you and/or your spouse were born before January 2, 1958, or were blind. 

$27,300 indicates that either you or your spouse met the age guideline above, or were blind.  See the Standard Deduction Chart on the back page of the form.

The $25,900 standard deduction was the married deduction if none of those apply.

[xmasbaby0]

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

2023 STANDARD DEDUCTION AMOUNTS

SINGLE $13,850  (65 or older/legally blind + $1850)

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

[xmasbaby0]

2022 STANDARD DEDUCTION AMOUNTS

SINGLE $12,950  (65 or older + $1750)

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

Legally Blind + $1750