Hello, my parents will claim me as a dependent, but I am getting a $12,400 standard deduction as well. Is that ok? They file their returns as "Married, filing jointly".

[webkinz9]

Hello, my parents will claim me as a dependent, but I am getting a $12,400 standard deduction as well. Is that ok? They file their returns as "Married, filing jointly".

[DanaB27]

Please make sure you selected that you can be claimed as a dependent:

1. Click “My Info” tab in the black bar on the left side of your screen.
2. Click “Edit” next to the name.  
3. Scroll down to the first question in Section 3: “A few other things we need to know”
4. Select "Yes" to the question "Someone else can claim me as a dependent on their tax return"

 If you can be claimed as a dependent by another taxpayer, your standard deduction for 2020 is limited to the greater of: 

• $1,100, or
• your earned income plus $350 (but the total can't be more than the basic standard deduction for your filing status, in your case $12,400).

[VolvoGirl]

Yes a dependent also gets the full Standard Deduction unless their earned income is less.

The Standard Deduction for an individual for whom an exemption can be claimed on another person's tax return is limited to the greater of:

…..$1,100 or

…..Your earned income for the year + $350 (but not more than 12,400)

So you would get a minimum of $1,100.