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mariaruiz92
New Member

On the Standerd Dedication..does that lower my tax return or does it stay the same?

 
2 Replies
LeonardS
Expert Alumni

On the Standerd Dedication..does that lower my tax return or does it stay the same?

The only time the standard deduction would lower your tax return is if your itemized deductions were more than your standard deduction.

 

The standard deductions for 2019 are.  

  • Single - $12,200 add $1,650 if age 65 or older add.  

  • Married Filing Separately - $12,200 add $1,300 if age 65 or older. 

  • Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older.   

  • Head of Household - $18,350 add $1,650 if age 65 or older.   

 

 

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VolvoGirl
Level 15

On the Standerd Dedication..does that lower my tax return or does it stay the same?

The Standard Deduction is a good thing.  You get to subtract either the Standard Deduction or all your Itemized Deductions whichever is more.  It is subtracted off your income before the tax is calculated so you get taxed on a lower amount.  Which means the first 12,200 Single or 24,400 Joint of your income is not taxed and is tax free.

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