Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
kenzie3333
New Member

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

 
1 Best answer

Accepted Solutions
DoninGA
Level 15

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

2 Replies
DoninGA
Level 15

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
pankajsingh004
New Member

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?

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v