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popsdaname
New Member

Where is the 24,000 dollar deduction from trump ?

im filing right now and i haven't come across my trump deduction why ?
1 Best answer

Accepted Solutions
Rachel_W
Level 4

Where is the 24,000 dollar deduction from trump ?

I believe you are referring to the new Standard Deduction amounts. $24,000 is the Standard Deduction if you are Married Filing Jointly.  The Standard Deduction is listed on Line 8 of your Form 1040, unless you use Itemized Deductions from Schedule A instead.

The Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, increased the Standard Deduction to the following amounts based on your filing status:

  • Single/Married File Separate- $12,000
  • Head of Household- $18,000
  • Married Filing Joint- $24,000

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1 Reply
Rachel_W
Level 4

Where is the 24,000 dollar deduction from trump ?

I believe you are referring to the new Standard Deduction amounts. $24,000 is the Standard Deduction if you are Married Filing Jointly.  The Standard Deduction is listed on Line 8 of your Form 1040, unless you use Itemized Deductions from Schedule A instead.

The Tax Cuts and Jobs Act (TCJA) that Congress signed into law on December 22, 2017, increased the Standard Deduction to the following amounts based on your filing status:

  • Single/Married File Separate- $12,000
  • Head of Household- $18,000
  • Married Filing Joint- $24,000
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