What is the standard federal deduction for 2023..married filing jointly, over 65?? It was $28,700 in 2023.? Thanks

[MinhT1]

Please read this IRS document for the tax inflation adjustments for tax year 2023, including the standard deductions.

[xmasbaby0]

No one is preparing a 2023 tax return yet.  That will happen next year.   Right now you are preparing a 2022 tax return for the tax year that just ended.

Your standard deduction lowers your taxable income.  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2022 Form 1040.

2022 STANDARD DEDUCTION AMOUNTS

SINGLE $12,950  (65 or older + $1750)

MARRIED FILING SEPARATELY $12,950  (65 or older + $1750)

MARRIED FILING JOINTLY $25,900  (65 or older + $1400 per spouse)

HEAD OF HOUSEHOLD  $19,400  (65 or older +$1750)

Legally Blind + $1750

[Mike9241]

Standard deduction 2022
Married filing joint or qualifying surviving spouse both over 65 $28,700

[bbult]

Want 2023 standard deduction for joint over 65...NOT 2022

[DoninGA]

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@bbult wrote:

Want 2023 standard deduction for joint over 65...NOT 2022

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You are completing a tax year 2022 tax return.  Tax year 2023 does not end until after 12/31/2023 and you file the 2023 tax return during calendar year 2024

Standard deductions for 2022

Single - $12,950 add $1,750 if age 65 or older
Married Filing Separately - $12,950 add $1,400 if age 65 or older
Married Filing Jointly - $25,900 add $1,400 for each spouse age 65 or older
Head of Household - $19,400 add $1,750 if age 65 or older

[bbult]

Everyone needs to ESTIMATE WITHHOLDING FOR 2023   hence the Standard Deductions for 2023 are needed now

[xmasbaby0]

https://www.experian.com/blogs/ask-experian/what-is-standard-deduction/#:~:text=As%20a%20single%20ta....