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Level 6
posted Mar 16, 2021 3:38:43 PM

Standard deduction confusion RESOLVED

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.

 

0 2 813
2 Replies
Level 15
Mar 16, 2021 4:38:06 PM

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!

Level 6
Mar 16, 2021 4:40:35 PM

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