I just installed the new turbo tax, and it is telling me that my standard deduction is 25900 (married filing jointly) - but this is last year standard deduction!

[gseverini]

This year standard deduction is $27,700 (married filing jointly)

[fanfare]

Maybe you just installed the old TurboTax.

[xmasbaby0]

It goes by your date of birth---and uses your age at the end of 2022.   If you had a 2023 birthday and blew out 65 candles  in January, that does not count.

[gseverini]

Can you please tell me how to calculate the standard deduction then? In 2022 I was 54years old.

[Texas Roger]

$25,900 is the correct standard deduction for tax year 2022 when filing married filing jointly and under the age of 65.

[gseverini]

Ok, I have to admit, Turbo Tax was right.

I have done the Standard deduction calculation though the official IRS tool:

https://www.irs.gov/help/ita/how-much-is-my-standard-deduction

And the result is the same given by TurboTax. 

[Texas Roger · Accepted solution]

See this IRS news release: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022#:~:text=For%20....