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Level 2
June 6, 2019
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How much money is saved by filing "head of household" with a dependent vs. filing separately with no dependent? (Trying to decide for healthcare eligibility purposes.)

  • June 6, 2019
  • 13 replies
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    Best answer by DoninGA

    Standard deductions for 2017 

    • Single - $6,350 add $1,550 if age 65 or older
    • Married Filing Separately - $6,350 add $1,250 if age 65 or older
    • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
    • Head of Household - $9,350 add $1,550 if age 65 or older

    Dependent personal exemption - $4,050

    13 replies

    ostr0001Author
    Level 2
    June 6, 2019
    I'm in a state with "adopted expansion."
    DoninGA
    Level 15
    DoninGALevel 15Answer
    Level 15
    June 6, 2019

    Standard deductions for 2017 

    • Single - $6,350 add $1,550 if age 65 or older
    • Married Filing Separately - $6,350 add $1,250 if age 65 or older
    • Married Filing Jointly - $12,700 add $1,250 for each spouse age 65 or older
    • Head of Household - $9,350 add $1,550 if age 65 or older

    Dependent personal exemption - $4,050

    Alumni - Champ
    June 6, 2019
    You may also get some tax credits for a dependent.  And all this assumes no tax law changes for 2017.
    Alumni - Champ
    June 6, 2019

    Here's the link for the current (2016) TaxCaster tool:

    https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ 

    Remember your state taxes as well.