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bobweissman
Level 6
March 16, 2021
Question

Standard deduction confusion RESOLVED

  • March 16, 2021
  • 1 reply
  • 13 views

This is the first year ever I fell into Standard Deduction thanks to the SALT limitation and the fact that most of my "charitable" contributions in a fraught election year were political and not deductible.

 

I was confused because my MFJ standard deduction was $26,100 instead of $24,800. I must be getting old.

 

1 reply

Alumni - Champ
March 16, 2021

Right. The 2020 Standard Deduction for Joint is $24,800; plus $1,300 for each of you who is age 65+.

One of the "privileges" of being getting old!

bobweissman
Level 6
March 16, 2021

Funny how this forum insists on showing my question as Online when I deliberately and carefully selected Windows as the platform.