Is Turbo Tax up to date with Trump tax bill?

momwfour · ‎June 6, 2019

Standard deduction changed for filing jointly/married?

SweetieJean · ‎June 6, 2019

That change does not affect 2017.

xmasbaby0 · ‎June 6, 2019

No, because that change will not be in effect until you prepare your 2018 tax return next year in 2019.

The only significant change for 2017 is that the medical expense threshold was changed to 7.5% of your AGI.

https://turbotax.intuit.com/tax-reform?cid=em_39665_3101_002_2017

**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.**

DoninGA · ‎June 6, 2019

The tax code does not affect tax year 2017 concerning the standard deduction. That goes into effect for 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

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Is Turbo Tax up to date with Trump tax bill?