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The standard deduction amounts for 2023 are:
For 2023, the additional standard deduction amounts for taxpayers who are 65 and older or blind are:
Increased standard deduction – If you had a net qualified disaster loss and you elect to increase your standard deduction by the amount of your net qualified disaster loss, use Schedule A (Form 1040) to figure your standard deduction. For more information, see the Instructions for Schedule A and the Instructions for Form 4684.
You can also look at a preview of your 1040. It includes Schedules 1, 2, & 3.
Schedule 3 is Additional Credits & Payments.
You can preview your tax return by going to:
Please contact us again with any additional questions or to provide some additional details.
Apparently this $5 was from Turbo tax for having used their services last year. I finally spoke to a representative who said this decision to distrubute was made Dec 11, 2023. Would have been helpful for Turbo to let us know, as it is concerning that it looks like I have a small business, which I don't.
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