Planning ahead for tax year 2022

[NewCastle]

Im using desktop version / in form mode / what-if worksheet

I copied column 1 (year 2021) to column 2.   I check the box in column 2 to use 2022 tax rates.

The Standard deduction for singles aged 65+ does not change from the 2021 rate.   Shouldn't it be $14,700 for tax year 2022?

[xmasbaby0]

2022 STANDARD DEDUCTION AMOUNTS

SINGLE $12,950  (65 or older + $1400)

MARRIED FILING SEPARATELY $12,950  (65 or older + $1400)

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

Legally Blind + $1750

[Critter-3]

The 2021 program is not fully functional yet  so why would you think the 2022 info is correct this early in the year?   For simple planning the info currently in the program will work for a broad estimate ... return after April to get a more exacting figure. 

[NewCastle]

Thanks for the quick reply, but for tax year 2022,  Singles aged 65+ , I'm sure they get a bump up of 1,750 for their standard deduction of 12,950

[NewCastle]

It appears that the tax tables for 2022 are in place, so why wouldn't the standard deduction?  There I go thinking again ;-/

[Critter-3]

The TT staff can only deal with so much at one time ... so sorry that updating for the 2022 "what if" tool is not top on the list.  Once they get all the 2021 forms functional they can turn their attention to 2022 😉

[Texas Roger]

You are correct that the additional standard deduction for a single filer age 65 or older is $1750. The program has not yet been updated in the What-If worksheet for the 2022 standard deduction or the age 65 or older add on deduction.

[xmasbaby0]

Yep---single or HOH is an increase of $1750----fixing my info!