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kenzie3333
New Member
posted
‎June 4, 2019 12:28 PM
last updated ‎June 04, 2019 12:28 PM

My standard deduction is only $6300 for single shouldn't it be $12,000 for the Trump tax cuts?

 
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DoninGA
Level 15
Level 15
‎June 4, 2019 12:29 PM

My standard deduction is only $6300 for single shouldn't it be $12,000 for the Trump tax cuts?

The increase of the standard deductions are effective for tax year 2018 and beyond, not for tax year 2017.

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

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2 Replies
DoninGA
Level 15
Level 15
‎June 4, 2019 12:29 PM

My standard deduction is only $6300 for single shouldn't it be $12,000 for the Trump tax cuts?

The increase of the standard deductions are effective for tax year 2018 and beyond, not for tax year 2017.

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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pankajsingh004
New Member
‎June 4, 2019 12:29 PM

My standard deduction is only $6300 for single shouldn't it be $12,000 for the Trump tax cuts?

As per calculation if i file Married Filing Jointly i should be getting $27,900.00 But in TurboTax it shows $24,000.00. Can anyone explain?
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