Was the 2017 tax bill retro activated? I thought it was, but I saw the standard deduction for married filing jointly was still only $12,600 not the $24,000.

posted

Connect with an expert

1 Reply

Was the 2017 tax bill retro activated? I thought it was, but I saw the standard deduction for married filing jointly was still only $12,600 not the $24,000.

No it was not retroactive to 2017. Standard deduction increases are for tax year 2018 and beyond.

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

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post