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dudleymcf
New Member

My standard deduction is $12,700. Itemized deductions on Schedule A total $4,530. Why does Form 1040 line 40 show $15,200?

 
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Accepted Solutions

My standard deduction is $12,700. Itemized deductions on Schedule A total $4,530. Why does Form 1040 line 40 show $15,200?

If you and your spouse are 65 or older add $1250 for each of you to the standard deduction.

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)

**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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3 Replies

My standard deduction is $12,700. Itemized deductions on Schedule A total $4,530. Why does Form 1040 line 40 show $15,200?

If you and your spouse are 65 or older add $1250 for each of you to the standard deduction.

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)

**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.**

My standard deduction is $12,700. Itemized deductions on Schedule A total $4,530. Why does Form 1040 line 40 show $15,200?

MFJ should say 12700 plus 1250 times 2 if both are over 65 = 15200.  I know that's what xmasbaby0 meant.
dudleymcf
New Member

My standard deduction is $12,700. Itemized deductions on Schedule A total $4,530. Why does Form 1040 line 40 show $15,200?

Thank you!
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